The Globe and Mail reports in its Tuesday, April 14, edition that Goldman Sachs Group beat expectations for quarterly profit on Monday, driven by strength in dealmaking and equities trading. A Reuters dispatch to The Globe reports that revenue from the division fell 10 per cent to $4.01-billion in the first quarter, hit by a slowdown in interest-rate trading, mortgages and credit products (all figures U.S.). The bank's equities trading business, however, had a record quarter, with revenue from trading intermediation and financing rising 27 per cent to $5.33-billion. Global markets have been roiled by the Iran war as rising crude oil prices fan inflation fears and exacerbate worries about a recession. The heightened volatility across asset classes has pushed up the need for clients to reassess portfolios and hedge downside risks, a practice that typically buoys trading desks at large banks. "The geopolitical landscape remains very complex -- so disciplined risk management must remain core to how we operate," Goldman Sachs chief executive officer David Solomon said in a statement. Over all, profit per share stood at $17.55, beating analysts' average estimate of $16.49.