According to an interim report, the bank generated 4.19 billion dollars from stock trading during the first three months of the year, an increase of 27 percent compared to the same period a year earlier.
However, CEO David Solomon states in a statement in the report that the second quarter, which began with the US President Donald Trump's tariff shock on April 2, is a completely different environment for conducting stock trading than before.
"Although we are still convinced that we can support our clients," he writes.
Overall, Goldman Sachs exceeded the market's average forecast for both earnings per share and total revenue in the first quarter.
Competitors such as JP Morgan Chase and Morgan Stanley also exceeded expectations with their interim reports last week, despite the uncertainty on the market dampening revenue from stock market listings, mergers, and acquisitions.
Solomon had already called for more clarity from Trump in March regarding the president's policy. His bank, Goldman Sachs, simultaneously adjusted its stock market and growth forecasts downward and flagged credit risks due to the tariffs.
