The Goldman Sachs Group, Inc. Earnings Recaps
Q2 2026
Jul 16, 2026
Goldman Sachs shares rose 10.2% post-earnings, reflecting investor enthusiasm for record revenues, strong investment banking momentum, and robust asset and wealth management growth, signaling confidence in the firm’s positioning amid expanding AI-driven capital needs and heightened deal activity.
Key takeaways
- Generated record quarterly revenues of $20.3 billion and earnings per share of $20.98, with a return on equity of 23.5%.
- Investment banking backlog hit its second highest level ever, led by robust M&A advisory activity, including landmark deals like SpaceX’s IPO and Alphabet’s equity raise.
- Equities and FICC segments delivered record revenues supported by elevated market volatility and client activity, particularly in Asia linked to AI capital formation.
- Asset and Wealth Management fees increased 20% year-over-year, with net inflows continuing for the 34th consecutive quarter, and wealth client assets reaching a record $2 trillion.
- Alternatives fundraising remained strong at $59 billion in the quarter, backed by $31 billion raised in private credit alone, highlighting sustained investor appetite despite some industry headwinds.
Q1 2026
Apr 13, 2026
Goldman Sachs posted a robust Q1 2026, with nearly $17.2 billion in revenues and second-highest earnings in firm history, showcasing resilience amid increased market volatility and geopolitical uncertainties.
Key takeaways
- Record quarterly revenues in Global Banking and Markets driven by strong client activity and flows across asset classes.
- Investment Banking maintained leadership as the #1 M&A adviser, with a high backlog despite market tempered IPO and sponsor activity.
- Asset & Wealth Management secured $62 billion in long-term fee-based inflows, bolstered by strategic acquisitions and steady client relationships.
- Private credit strategies demonstrated discipline with $26 billion raised and over 7% net inflows, reflecting confident investor demand.
- Shareholder capital remains well-supported with favorable regulatory developments and a prepared stance to navigate ongoing geopolitical and economic complexities.
Q3 2025
Oct 14, 2025
The Goldman Sachs Group, Inc. reported robust Q3 2025 results, achieving net revenues of $15.2 billion and demonstrating strong momentum in M&A activity, underscoring its leading market position.
Key takeaways
- Achieved earnings per share of $12.25 and year-to-date ROE of 15.6%, reflecting strong operational performance.
- Advised on over $1 trillion in M&A volumes for 2025, significantly ahead of competitors.
- Assets under supervision reached a record $3.5 trillion, with private banking and lending raising $33 billion in Q3 alone.
- Announced strategic acquisition of Industry Ventures, enhancing capabilities in venture capital and alternative investments.
- Continuous revenue growth in FICC and equities, maintaining momentum for the seventh consecutive quarter.