Goldman Sachs' income rises 28% in 1st quarter

By Ovunc Kutlu

ISTANBUL (AA) - Goldman Sachs saw its income jump around 28% in the first quarter of this year, according to its financial results statement released Monday.

The US-based investment bank posted net earnings of $4.13 billion in January-March, up 27.8% from $3.23 billion in the same period of last year.

The bank had net earnings applicable to common shareholders of $3.93 billion – up 27.2% from almost $3.09 billion year-on-year.

Total net revenues rose 16.3% to $14.21 billion, from $12.22 billion during the same period.

Goldman Sachs' stock price was up 3.3% to $402.34 per share at 12.34 p.m. EDT (1634GMT) on the New York Stock Exchange.