Goldman Sachs (NYSE: GS) reported first-quarter results that beat significantly on both the top and bottom line Tuesday. However, revenue from fixed income trading missed analysts' estimates.
Revenues were $10.04 billion versus expectations of $8.74 billion. Earnings per share came in at $6.95 versus expectations of $5.58.
Goldman Sachs raised its quarterly dividend to 80 cents per common share.
The bank reported fixed income trading revenues of $2.07 billion, which was below the $2.13 billion consensus analyst estimate from Street Account.
Goldman said lower net revenues in interest rate products and mortgages affected results. Still, the figure marked a 23 percent increase from a year earlier and sales from equities trading rose 38 percent to $2.31 billion.
Said CEO Lloyd Blankfein "Solid performance across our businesses produced strong returns in the first quarter.
"We are well-positioned to serve our clients as the global economy continues to show strength and central banks unwind certain aspects of policy stimulus."
Last quarter, Goldman reported earnings that topped Wall Street estimates but the bank posted a net loss when factoring in a tax hit, largely because of a one-time charge for bringing overseas profits back to the U.S.
The investment banking titan also beat on revenue in the fourth quarter.
David Solomon is next in line to succeed Blankfein after the firm announced Harvey Schwartz, who shares the titles of co-president and co-chief operating officer, is leaving the bank April 20
Shares in Goldman perked $3.88, or 1.5%, Tuesday morning, to $261.76
