Goldman Sachs' investment banking divisions, including M&A, ECM, and debt fees, all exceeded expectations in the recent quarter.

JP Morgan, Bank of America, and Citigroup had all provided guidance for mid-teens growth in their trading businesses for the first quarter.

Goldman Sachs reported that IPO activity was softer in March, likely due to market volatility.

Goldman Sachs CEO David Solomon has indicated that geopolitical volatility is positive for the firm's trading business as it keeps institutional clients engaged and needing to reposition.