Goldman earnings more than double

Investment bank Goldman Sachs Group said yesterday its quarterly earnings more than doubled, driven by strong revenue from stock and bond trading and its top position as a mergers and acquisitions adviser.

The New York-based brokerage reported net income for the first quarter ended February 27 rose to $1.29 billion, or $2.50 per share, a new record for the firm. In the year earlier quarter, Goldman earned $622m, or $1.29 per share.