Diluted earnings per common share were $3.92 against $1.56 for the first quarter of 2011 and $1.84 for the fourth quarter of 2011.
Goldman Sachs chairman and chief executive officer Lloyd Blankfein said stronger global markets, together with the firm’s deep and broad client franchise, drove improved results across most of our businesses.
"Because client activity remains relatively low in certain areas, especially in parts of Investment Banking, we believe that our mix of businesses gives the firm significant room for revenue growth as economic and market conditions continue to improve," Blankfein said.
For the latest quarter, the investment banking segment net revenues declined by 9% to $1.15bn than the first quarter of 2011.
Net revenues in Financial Advisory were $489m, 37% higher than the first quarter of 2011, while net revenues its Underwriting business declined 27% to $665m compared to the same quarter last fiscal.
Net revenues in institutional client services segment for the quarter ended 31 March fall 14% to $5.71bn than the first quarter of 2011.
The firm said that its net revenues in fixed income, currency and commodities client execution were $3.46bn down 20% than a solid first quarter of 2011, as higher net revenues in interest rate products were more than offset by lower net revenues in the other major businesses.
The firm generated net revenues of $2.25bn from its equities business segment, which is 3% lower than the first quarter of 2011.
Net revenues in investing & lending segment stood at $1.91bn for the latest quarter of 2012, while investment management segment’s net revenues declined 8% to $1.18bn than the first quarter of 2011.
