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Goldman Sachs Group Inc reported an 11 percent drop in quarterly profit as client activity remained constrained and fixed-income revenue shrank, but both earnings and revenue beat market estimates and the Wall Street bank's shares rose. Goldman said net income fell to $1.95 billion, or $4.02 per share, in the first three months of the year from $2.19 billion, or $4.29 per share, in the same period of 2013. "Investment Banking and Investment Management generated solid results, while market sentiment shifted throughout the quarter, constraining client activity in various parts of our franchise," Chairman and Chief Executive Lloyd Blankfein said in a statement. Most of Goldman's rivals also reported a drop in revenue from fixed-income trading in the quarter, but Goldman has more at stake than others because it has a less diverse business mix.