Goldman Sachs Group Inc's first-quarter earnings fell from a year earlier but were better than many analysts had anticipated thanks to aggressive cost-cutting and better-than-expected investment banking and trading revenues.
Goldman earned $2.1 billion, or $3.92 per share, during the quarter. In the year-ago period, which was generally stronger for investment banks' trading and banking activity, Goldman earned $4.38 per share, excluding a one-time cost for buying back preferred stock.
The Wall Street investment bank also said it would raise its quarterly dividend to 46 cents per share from 35 cents.
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