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Goldman Sachs Group, Inc.

Goldman Sachs' big quarter affirms Wall Street's comeback

Goldman Sachs Group Inc. blew through profit expectations and said Thursday that it rang up its highest quarterly revenue in four years, another sign of the resurgence of Wall Street's profit-making power after the financial crisis.

Goldman's big first quarter echoed strong performances earlier this week by other mega-banks, particularly those of J.P. Morgan Chase & Co. and Wells Fargo & Co., both of which saw large increases in revenue from investment banking despite a stricter regulatory environment imposed by the 2010 Dodd-Frank financial reform law.

Goldman said its net income rose 40% to $2.8 billion, or $5.94 a share, compared with earnings of $2 billion, or...