NYSE$GS

Goldman Sachs Group Inc · Q2 2026 earnings

Q2 2026 earnings · · Before market open · Investor relations

Briefing

Goldman Sachs reported record Q2 2026 net revenues of $20.34 billion and diluted EPS of $20.98.

The firm posted net earnings of $6.63 billion for the quarter ended June 30, 2026, driven by significantly higher revenues in Global Banking & Markets. ROE reached 23.5% annualized while book value per share rose to $367.67. The Board increased the quarterly dividend to $5.00 per share.

  • Net revenues rose 39% YoY to $20.34 billion, led by 53% growth in Global Banking & Markets.
  • Diluted EPS of $20.98 more than doubled from $10.91 in Q2 2025.
  • Investment banking fees reached $3.40 billion, up 55% year-over-year.
  • Headcount declined 2% sequentially to 46,200 while average GCLA increased to $555 billion.

Headline financials

Total Revenue

$20.3B

Previous: $14.6B+39.5%
EPS (adj)

$20.98

Previous: $10.91+92.3%
Effective Tax Rate

18.5%

No prior period
Book Value Per Share

$367.67

No prior period
Average GCLA

$555B

No prior period
Efficiency Ratio

58.8%

No prior period
Net Income

$6.63B

Previous: $3.72B+78.0%
Operating Income

$8.56B

Previous: -$4.48B+291.4%
Cash & Equivalents

$187B

Previous: $153B+22.2%
Total Assets

$2.13T

Previous: $1.79T+19.2%

Revenue & EPS history

Goldman Sachs · Revenue · Quarterly

$20.3B

Q2 2026+39.5%vs Q2 2025
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Goldman Sachs · $20.3B total across 3 segments · Q2 2026

  • Global Banking & Markets
    $15.5B
  • Asset & Wealth Management
    $4.6B
  • Platform Solutions
    $221M

Forward guidance

Board increased quarterly dividend to $5.00 per share payable in Q3 2026.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports

Historical avg

+0.1%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+4.1%

Avg return

30 days after

47%

34 / 73 earnings

Positive

+10.7%

Q4 2018

Best reaction

-8.8%

Q4 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026
Q4 2025+5.5%+2.0%+5.2%
Q1 2026-1.0%+2.0%+5.2%
Q3 2025-2.4%-4.6%+2.4%
Q2 2025+0.3%-3.1%+4.7%
Q1 2025+1.9%+3.0%+23.7%
Q4 2024+7.3%+9.5%+15.6%
Q3 2024+1.4%+1.1%+12.6%
Q2 2024+4.8%+1.1%+3.9%
Q1 2024+1.9%+3.7%+19.7%
Q4 2023-0.2%+1.2%+2.0%
Q3 2023-4.0%-4.6%+7.1%
Q2 2023+4.0%+6.4%-3.7%
Q1 2023-0.8%+0.6%-3.0%
Q4 2022-6.7%-8.6%-1.0%
Q3 2022+1.6%+6.0%+23.8%
Q2 2022+8.2%+10.2%+20.4%
Q1 2022+2.5%+4.3%-4.7%
Q4 2021-8.8%-9.7%-8.4%
Q3 2021+5.7%+4.3%+3.5%
Q2 2021-1.6%-4.1%+9.1%
Q1 2021+3.3%+4.7%+12.5%
Q4 2020-3.5%-3.9%+3.0%
Q3 2020-1.0%-2.4%+3.9%
Q2 2020+0.3%-1.1%-2.8%
Q1 2020-0.7%+1.2%-3.6%
Q4 2019+1.7%+1.5%-3.5%
Q3 2019+0.8%+0.3%+6.6%
Q2 2019+0.8%+0.9%-7.3%
Q1 2019-2.9%-0.9%-5.5%
Q4 2018+10.7%+12.6%+10.3%
Q3 2018+6.1%+5.5%-5.3%
Q2 2018-0.1%+0.1%+0.7%
Q1 2018-1.5%-2.3%-7.3%
Q4 2017-2.9%+1.2%+3.5%
Q3 2017-0.2%+1.0%-1.3%
Q2 2017-2.8%-4.0%-3.4%
Q1 2017-5.4%-4.2%-4.9%
Q4 2016-1.8%-1.3%+6.2%
Q3 2016+3.3%+3.4%+24.0%
Q2 2016-1.0%-1.8%+1.7%
Q1 2016+5.0%
Q4 2015-3.3%
Q3 2015+3.2%
Q2 2015-0.2%
Q1 2015-1.9%
Q4 2014-1.6%
Q3 2014-0.2%
Q2 2014+2.1%
Q1 2014+0.4%
Q4 2013-1.4%
Q3 2013-2.2%
Q2 2013-0.9%
Q1 2013-4.0%
Q4 2011+1.6%
Q4 2012+4.0%
Q3 2012+0.3%
Q2 2012-1.2%
Q1 2012-2.0%
Q3 2011-8.4%
Q2 2011-6.2%
Q1 2011+0.7%
Q1 2009-1.3%
Q4 2010-1.3%
Q3 2010-1.2%
Q2 2010-0.8%
Q4 2009-0.8%
Q1 2010-0.7%
Q4 2007+1.5%
Q3 2008+1.0%
Q3 2009+1.0%
Q2 2008+1.0%
Q2 2009+1.0%
Q4 2008+1.0%

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro