Goldman Sachs posted first quarter earnings on Tuesday with a profit of 2.74 billion dollars, down 21 percent from 3.46 billion dollars a year earlier, but the drop was smaller than analysts' previous estimation.
The fifth-largest U.S. bank said the decline of profit largely attributed to the repayment of 5 billion investment by Berkshire Hathaway during financial crisis.
Its revenues fell 7 percent year-on-year, to 11.9 billion dollars, due to weak income form fix income and equity trading and advisory divisions.
Net revenues from fixed income, currency and commodities trading, which were widely regarded as the largest income source for the bank, fell 28 percent, to 4.3 billion dollars. Equities-trading revenue fell 24 percent to 979 million dollars. Revenue from advisory fell 23 percent to 357 million dollars.
However, the largest U.S. investment bank's 1.56 dollar per-share earnings beat the expectations of 82 cents.
Goldman Sach's shares rose 2.07 dollars, or 1.35 percent to 153.35 dollars per share in early trading session on Tuesday at New York Stock Exchange.
