Goldman Sachs Group Inc (GS.N) reported that profit in the fourth quarter was 80%.
Net income applicable to common shareholders rose to $2.16 billion in the first quarter ended March 31. Profit per share rose to $5.15 from $2.68. Analysts on average had expected a profit of $5.31 per share, according to Thomson Reuters.
Tax provision fell by 35.6% to $284 million.
Morgan Stanley (MS.N), the traditional rival of Goldman Sachs, will provide earnings reports on Wednesday.