Goldman Sachs has announced its Q1 earnings, reporting earnings per share of $14.12 and a 15% increase in profit, significantly surpassing estimates driven by a surge in equities trading revenue. CEO David Solomon highlighted a ‘markedly different operating environment’ and warned of material risks stemming from trade policies, particularly the uncertainty surrounding tariffs. Despite a slowdown in deal-making, the bank experienced record trading gains, leading to a $4.7 billion profit. Solomon emphasized that clients are seeking policy certainty, which has contributed to a backlog of decisions. Goldman Sachs is also planning a $40 billion stock buyback as it navigates these turbulent markets.