FN2 Earnings Intelligence

GS revenue earnings history

The Goldman Sachs Group, Inc. (GS) quarterly reported and estimated revenue history by fiscal quarter.

Earnings History

Estimate Beat Miss Match
GS REVENUE earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q2 '24 estimate $12B Q2 '24 actual $13B, beat Q3 '24 estimate $12B Q3 '24 actual $13B, beat Q2 '25 estimate $14B Q2 '25 actual $15B, beat Q3 '25 estimate $14B Q3 '25 actual $15B, beat Q4 '25 estimate $15B Q4 '25 actual $13B, miss Q1 '26 estimate $17B Q1 '26 actual $17B, beat Q2 '26 estimate $16B Q2 '26 actual $20B, beat Q3 '26 estimate $17B Q3 '26 actual $19B, beat Q4 '26 estimate $17B Q1 '27 estimate $19B Q2 '27 estimate $19B Q3 '27 estimate $19B
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GS FY2026 Q3 · Calendar Q4 2026

The Goldman Sachs Group, Inc.

Goldman’s Q3 results strengthen the case for earnings durability: record advisory activity, financing revenue and wealth-management inflows broadened the earnings base. The counterweight is that AI-financing demand, M&A, rates and regulation remain important swing factors.

EPS surprise+32.3%
Market move-0.2%
GS FY2026 Q2 · Calendar Q3 2026

The Goldman Sachs Group, Inc.

Goldman Sachs delivered record Q2 2026 results, surpassing consensus estimates by approximately 45% on EPS and 25% on revenue. The quarter was powered by AI-related capital formation, surging M&A advisory volumes (up 90% year-over-year), and strong performance in equities and FICC financing, particularly in Asia. Management raised the dividend 25% to $5 per share and repurchased $4 billion in stock, underscoring confidence in capital generation. Wealth management assets crossed $2 trillion and total assets under supervision reached $4 trillion. While management frames the AI infrastructure build-out as a multi-year growth engine, the stock has experienced an approximately 8% pullback from the post-earnings rally, and the early stage of the AI capex cycle introduces volatility risk.

EPS surprise+45.0%
Market move+9.0%
GS FY2026 Q1 · Calendar Q2 2026

The Goldman Sachs Group, Inc.

The current analysis supports a constructive operating trajectory: strong financing demand, substantial Asset & Wealth Management inflows, Asia expansion and technology investment extend the prior quarter's themes. The case remains dependent on market-sensitive revenue, credit conditions, regulatory outcomes and the conversion of AI and cloud investment into efficiency gains.

EPS surprise+6.6%
Market move-1.9%
GS FY2025 Q4 · Calendar Q1 2026

The Goldman Sachs Group, Inc.

The latest analysis supports a constructive but conditional view: Goldman Sachs is broadening toward wealth management, financing and alternatives while using One Goldman Sachs 3.0 to pursue productivity gains. The thesis depends on execution, durable deal activity and progress toward the stated wealth-management targets.

EPS surprise+19.7%
Market move+4.6%
GS FY2025 Q3 · Calendar Q4 2025

The Goldman Sachs Group, Inc.

The supplied analysis supports a constructive operating thesis: deal activity, alternatives fundraising and asset-and-wealth-management scale provide growth support, but the evidence is balanced by execution, credit and regulatory risks. Guidance was not provided in the analysis.

EPS surprise+11.1%
Market move-2.0%
GS FY2025 Q2 · Calendar Q3 2025

The Goldman Sachs Group, Inc.

The supplied analysis supports a constructive view of Goldman Sachs’s earnings trajectory: record financing and equities revenue, stronger M&A activity, alternatives fundraising and AI initiatives indicate broad franchise momentum. The thesis remains sensitive to regulation, capital requirements, market conditions and private-equity harvesting.

EPS surprise+13.1%
Market move+0.9%
GS FY2025 Q1 · Calendar Q2 2025

The Goldman Sachs Group, Inc.

The supplied analysis supports a constructive but conditional view: diversified client demand, alternatives growth and technology-led productivity are strengths, while macro, regulatory and execution risks limit confidence.

EPS surprise—
Market move+1.9%

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