Goldman Sachs Sees 102% YoY Net Revenue Jump in Q1 2021

​Goldman Sachs​ Group Inc. has published its earnings results for the first quarter of 2021, with the net revenues standing at $17.70 billion, the highest level since 2009, up 102% YoY and 51% compared to Q4 2020.  

The bank posted net earnings of $6.84 billion, or $18.60 a share, significantly exceeding the $1.21 billion, or $3.11 a share it posted in the same quarter a year ago.

In terms of Investment Banking, Goldman Sachs reported record quarterly net revenues of $3.77 billion, including record Equity underwriting net revenues and strong net revenues in Financial advisory and Debt underwriting. 

Its Global Markets generated quarterly net revenues​ of $7.58 billion, 47% higher than the first quarter of 2020, and its highest quarterly net revenues since 2010, reflecting the second highest quarterly net revenues in Equities and strong net revenues in Fixed Income, Currency and Commodities (FICC).

Quarterly net revenues of Asset Management also reached a record level of $4.61 billion, reflecting record net revenues from Equity investments.

Consumer & Wealth Management generated record quarterly net revenues of $1.74 billion, reflecting continued growth in both Wealth management and Consumer banking net revenues.

The Goldman Sachs Group, Inc. is a leading global financial institution that delivers a broad range of financial services across investment banking, securities, investment management and consumer banking to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Last month, the investment banking giant has reportedly relaunched cryptocurrency trading desk​, planing to deal bitcoin futures and non-deliverable forwards.