David Solomon, CEO of Goldman, sees a significantly different environment for that year: the first quarter profits

Goldman Sachs easily won Wall Street’s expectations when I mentioned The results of the first quarter, despite the decrease in consulting fees.

Goldman said on Monday that quarter -1 profits increased by 15 % to $ 4.74 billion compared to $ 4.1 billion for the same period in 2024. The bank published a reduced profit for the $ 14.12 share, or about 15 % of Wall Street’s compatibility estimation of $ 12.31 per share.

The total net revenue increased by 6 % to $ 15.06 billion in the first quarter, compared to $ 14.2 billion for the same period in 2024.

Dealmers expected that the mergers and subscriptions will recover in the first quarter with the change in the presidential departments. This did not happen. Nearly 24 % American mergers decreased in the first quarter, luck He has I mentioned. After that, on April 2, President Donald Trump revealed the “Tahrir Day” tariff, causing a decrease in the US stock market while stopping deals and public subscriptions.

“While we enter the second quarter with a significantly different operating environment from the time earlier this year, we are still confident in our ability to continue to support our customers,” David Solomon, President and CEO of Goldman said in a statement.

Goldman, a consultant of senior integration and purchases, said the consulting fees in the first quarter decreased by 22 % to 792 million dollars. Stock trading revenues jumped by 27 % to $ 4.19 billion per quarter. Global banking services and market revenues increased by 10 % to $ 10.7 billion.

Last week, Jimmy Damon, Chairman and CEO of JPMorgan,to caution About the prospects for the American economy, who said it was “great turmoil.”

This story was originally shown on Fortune.com