1.56pm BST

Goldman Sachs cashes in on another roaring period for its traders and investment bankers, with revenue and earnings rising to a record https://t.co/zqf4UrtFtq

1.54pm BST

Goldman Sachs has smashed Wall Street forecasts for first-quarter profits. The US investment bank has benefited from record levels of global dealmaking, and a boom in stock market trading.

The bank posted earnings per share of $18.60, far ahead of the $10.22 estimate of analysts polled by Refinitiv, and up 498% from a year earlier. Revenues of $17.7bn easily beat expectations of $12.6bn.

We have been working hard alongside our clients in preparation for a world beyond the pandemic and a more stable economic environment. Our businesses remain very well positioned to help our clients reposition for the recovery, and that strength is reflected in the record revenues and earnings achieved this quarter.

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