Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets, reported a 23 percent decline in first-quarter profit, beating analysts’ estimates on better-than-projected revenue from investment banking.
Net income fell to $2.11 billion from $2.74 billion a year earlier, the New York-based bank said Tuesday in a statement. Earnings per share of $3.92 beat analyst estimates.
Strong quarterly profit reports, including Goldman Sachs, pushed stock indexes higher Tuesday morning. The Dow Jones industrial average was up 169 points just before 11 a.m.
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