Goldman Sachs quarterly profit surges 80 percent

REUTERS - Goldman Sachs Group Inc reported an 80 percent jump in quarterly profit as the Wall Street bank benefited from a pick up in global equity and debt offerings.

Net income applicable to common shareholders jumped to $2.16 billion in the first quarter ended March 31, from $1.2 billion a year earlier. (http://bit.ly/2nYyF63)

Earnings per share rose to $5.15 from $2.68. Analysts on average had expected earnings of $5.31 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported figures were comparable.

Provision for taxes fell 35.6 percent to $284 million.

Morgan Stanley, Goldman's traditional rival, reports earnings on Wednesday.

 

(Reporting by Sruthi Shankar in Bengaluru and Olivia Oran in New York; Editing by Sriraj Kalluvila)