Goldman’s Q1 profit falls 46% yet posted strongest bond-trading

Goldman Sachs reported first-quarter earning $3.11 a share in the quarter on revenue of $8.74 billion.

Goldman shares  were lower by 1.6 percent in the premarket following the announced results.

“Our quarterly profitability was inevitably affected by the economic dislocation,” said David Solomon, chairman and CEO, in a release.

Trading results increased because of the market volatility. Fixed income operations posted  net revenues of $2.97 billion, the division’s best results in five years.

Equities revenues came in at $2.19 billion, the second best quarter in five years.

However, among the six biggest U.S. banks, Goldman derives the biggest share of its revenue from Wall Street activities including trading and mergers advice.