The Goldman Sachs Group Stock Earnings Reports

Goldman Sachs reported a very strong Q1 2026: net revenues of $17.2 billion, net earnings of $5.6 billion and EPS of $17.55 (all the second-highest in firm history), producing a 19.8% ROE and 21.3% ROTE. Global Banking & Markets delivered record revenues ($12.7B) with strong equities (record $5.3B) and FICC financing growth; Investment Banking remained #1 in M&A and backlog stayed robust. Asset & Wealth Management had $62B of long-term fee-based inflows (33rd consecutive quarter of long-term inflows), total AUM/AUS reached a record $3.7T, and Alternatives raised $26B (including $10B in private credit). The firm continued to deploy balance sheet into client-facing financing (prime, equities financing, acquisition financing, wealth lending), while returning $6.4B to shareholders ($5B in share repurchases). CET1 was 12.5% (110 bps above current requirement). Management signaled continued investments in One Goldman Sachs 3.0 (cloud, data, AI enablement) to drive medium‑term operating leverage and efficiency, even as non-comp costs rose due to higher transaction activity. Key risks cited: increased market volatility (AI-driven disruption concerns), sector-specific weakness (software/private credit areas), geopolitical uncertainty (Middle East), and cyber/AI infrastructure risk — yet management emphasized the firm’s diversified global franchise, disciplined risk management, and long-term confidence in private credit and other growth areas. Guidance/positioning highlights: continuing to prudently grow financing businesses (esp. Asia), focus on reaching ~60% efficiency over time, expect full-year tax rate ~20%, and to participate in regulatory rule‑making (Basel III/G‑SIB reproposals) while keeping capital deployment flexible.