Goldman Sachs Group Inc. reported a significant increase in first-quarter earnings, with net revenues reaching $15.06 billion, a 6% rise year-over-year, surpassing the estimated $14.76 billion. The bank's earnings per share (EPS) stood at $14.12, well above the expected $11.58. The surge in profits was primarily driven by record-breaking equities trading revenue, which reached $4.19 billion, exceeding the forecast of $3.8 billion. Net earnings for the quarter were $4.74 billion. The bank's board approved a new share buyback program of up to $40 billion, signaling confidence in its financial health and future prospects. This move comes as Goldman Sachs navigates a 'markedly different' operating environment entering the second quarter, as noted in their earnings report. The bank's annualized return on equity (ROE) was 16.9%, and the return on tangible equity (ROTE) was 18.0%. In addition to the strong performance in equities, Goldman Sachs reported a 10% increase in Global Banking & Markets revenue to $10.71 billion, which also beat estimates. However, the bank's Fixed Income, Currency and Commodities (FICC) trading revenue slightly missed expectations, coming in at $4.40 billion against an estimate of $4.47 billion. The provision for credit losses was $287 million, and the Common Equity Tier 1 (CET1) ratio was 14.8%.