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Goldman said its net income applicable to common
shareholders rose to $2.75 billion, or $5.94 per share, for the
quarter ended March 31, from $1.95 billion, or $4.02 per share,
in the same period of 2014.
Analysts on average had expected earnings of $4.26 per share,
according to Thomson Reuters I/B/E/S.
The bank's quarterly earnings were the highest since the first
quarter of 2010.
Goldman's shares were up about 0.5 percent at $201 in premarket
trading.
Goldman has been more committed to fixed-income and commodities
trading than some rivals, with Chief Executive Lloyd Blankfein
arguing that his bank will be able to capture market share by
staying in trading areas others are abandoning in the face of
new capital rules and a slump in client activity.
That strategy paid off latest quarter.
Revenue from trading fixed income, currencies and commodities
rose 10 percent to $3.13 billion.
That accounted for about 30 percent of total net revenue, which
rose 14 percent to $10.62 billion.
Goldman Sachs became the top commodities bank by revenue last
year, overtaking rival JPMorgan Chase & Co <JPM.N>, analytics
firm Coalition has said, but the bank does not break out revenue
from commodities trading.
Investment banking revenue rose 7.1 percent to $1.91 billion,
the highest since 2007.
(Reporting by Sweta Singh in Bengaluru; Editing by Ted Kerr)
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