Goldman Sachs shocked analysts today by announcing a $1.81 billion profit for the first quarter of 2009, the Wall Street Journal reports. “Given the difficult market conditions, we are pleased,” CEO Lloyd Blankfein said. Goldman also announced plans for a $5 billion stock offering that would help the company repay a $10 billion TARP loan if federal regulators allow them.
Goldman recovered from a dismal last quarter with today's results, which overcame losses in investment banking and asset management with more than $13 billion from fixed income business, trading, and principal investment revenue, Fortune reports. Goldman shares, which have been surging, dipped slightly in after-hours trading but rose about 4.7% on the day.