Goldman Sachs Group Reports Q3 2026 Results: Full Earnings Call Transcript
Key takeaways
- Goldman Sachs delivered a record‑high quarter, with net revenues of $18.7 billion and EPS of $17.01, driven by strong fee income and asset growth, while maintaining a solid capital buffer and efficient cost structure.
- Net revenues $18.7 billion
- EPS $17.01
- ROE 18.7%
What happened
Goldman Sachs Group (GS) reported third‑quarter 2026 earnings with net revenues of $18.7 billion, the second highest in its history, and earnings per share of $17.01. Net revenues were driven by $13.5 billion from Global Banking and Markets, $6.4 billion from Equities, and $5.1 billion from Asset and Wealth Management. Management and other fees rose 22% YoY to a record $3.6 billion, supported by $491 billion in alternative assets under supervision and $97 billion of long‑term net inflows. The…
Why it matters
The results show a strong revenue mix and high profitability, with ROE at 18.7% and ROTE at 20.5%. The record fee income and asset growth reinforce the firm’s durable revenue base, now about 45% of total revenue. Capital ratios remain solid with CET1 at 12.4% and a 100‑basis‑point buffer above the 11.4% requirement.…
Short-term and longer-term
Short-term. In the next few days, watch for the impact of the $3 billion stock repurchase and $1.5 billion dividend on the share price.
Longer-term. Over the coming months, the firm’s record fee income and asset growth position it well for continued expansion in M&A advisory and financing, especially as AI infrastructure demand rises.