Goldman Sachs earnings gets boost from burst of trading

Goldman reports quarterly results

Goldman Sachs delivered quarterly earnings and revenue that topped analysts' expectations on Thursday, helped by a burst of trading activity in January when the Swiss central bank removed a cap on the franc.

Shares of Goldman Sachs moved higher in premarket trading following the announcement. (Get the latest quote here.)

Goldman said on Thursday its net income applicable to common shareholders rose to $2.75 billion, or $5.94 per share, for the quarter ended March 31, from $1.95 billion, or $4.02 per share, in the same period of 2014.

Revenue rose to $10.62 billion from $9.33 billion a year ago. Revenue from trading fixed income, currencies and commodities rose 10 percent to $3.13 billion.

Wall Street expected the company to post first-quarter profit of $4.26 per share on revenue of $9.35 billion, according to a Thomson Reuters consensus estimate.

Goldman's stock has risen 30 percent in the last 12 months, outperforming fellow Dow Jones Industrial Average component JPMorgan Chase in the same time period.

JPMorgan Chase kicked off the corporate earnings season on Tuesday by delivering profits that topped Wall Street's estimates.

In January, Goldman Sachs reported fourth-quarter earnings were hit by an unexpected bout of volatility that impacted revenue in its business that trades bonds, currencies and commodities.

Reuters contributed to this report.