The Goldman Sachs Group Stock Earnings Reports

Goldman Sachs reported very strong Q3 2025 results: net revenues of $15.2B, EPS of $12.25, and an ROE ~14.2% (ROTE 15.2%). Key drivers were Global Banking & Markets (revenues $10.1B) with standout advisory and underwriting performance — the firm advised on over $1 trillion of announced M&A YTD and holds top league-table positions across regions. FICC and equities showed year-over-year growth (FICC +17%) with strong financing revenues (record equities financing). Asset & Wealth Management delivered record management fees, AUM/AUS hit records ($3.5T AUS; $1.8T wealth assets), and alternatives fundraising was a record $33B in the quarter (raising ~ $70B YTD and now expecting roughly $100B for the year). Firm NII was $3.9B; loan portfolio $222B; provision for credit losses $339M. Expenses were $9.5B; non-comp up due to transaction costs, charitable giving, and litigation. Capital returns totaled $3.3B (dividends + buybacks); CET1 ratio 14.4% (standardized). Management emphasized prudent risk management (including SRT use), selectivity in lending, and confidence in forward investment banking momentum (sponsor activity +40% Y/Y). Strategic priorities highlighted: (1) accelerating Asset & Wealth Management via partnerships and tuck-ins (Industry Ventures, collaboration with T. Rowe Price), (2) scale and efficiency through “One Goldman Sachs 3.0 propelled by AI” — a multi-year, front-to-back reengineering initiative to boost productivity and drive durable profitability, and (3) positioning to benefit from an improving regulatory backdrop (expected SLR relief, CCAR clarity, Basel III endgame) which should improve competitive dynamics vs. non-bank players. Management reiterated discipline on underwriting and risk limits, selective balance sheet deployment, and confidence in delivering durable returns over the medium term.