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Goldman Sachs quarterly results

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.

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