The Goldman Sachs Group, Inc. (NYSE: GS) reported net revenues of $9.95 billion and net earnings of $2.11 billion for the first quarter ended March 31, 2012. Diluted earnings per common share were $3.92 compared with $1.56 for the first quarter of 2011 and $1.84 for the fourth quarter of 2011. Annualized return on average common shareholders’ equity (ROE) was 12.2% for the first quarter of 2012.
Goldman Sachs continued its leadership in investment banking, ranking first in worldwide announced mergers and acquisitions for the year-to-date.
Fixed Income, Currency and Commodities Client Execution generated net revenues of $3.46 billion, reflecting improved activity levels across most major businesses.
Book value per common share and tangible book value per common share both increased approximately 3% during the quarter to $134.48 and $123.94, respectively.
The firm continues to manage its liquidity and capital conservatively. The firm’s global core excess liquidity was $171 billion as of March 31, 2012. In addition, the firm’s Tier 1 capital ratio under Basel 1 was 14.7% and the firm’s Tier 1 common ratio under Basel 1 was 12.9% as of March 31, 2012, up from 13.8% and 12.1%, respectively, as of the end of 2011.
