The Goldman Sachs Group, Inc. (GS) Q3 FY2026 earnings

Reported results

• Net revenues of $18.68 billion for 3Q26, 23% higher than 3Q25 and 8% lower than 2Q26
• Net earnings of $5.29 billion for 3Q26; diluted EPS of $17.01 compared with $12.25 in 3Q25
• Global Banking & Markets net revenues of $13.46 billion, 32% higher than 3Q25, driven by higher Investment banking fees of $3.22 billion (21% increase) and Equities revenues of $6.44 billion (72% increase)
• Asset & Wealth Management net revenues of $5.05 billion, 14% higher than 3Q25, reflecting higher Management and other fees of $3.59 billion and Incentive fees of $587 million
• Provision for credit losses of $368 million in 3Q26 compared with $339 million in 3Q25; Operating expenses of $11.31 billion, 20% higher than 3Q25
• Annualized ROE of 18.7% for 3Q26 and 20.7% for nine months ended September 30, 2026; Book value per common share of $372.64 with YTD growth of 4.2%

Notes

The release notes that certain preliminary estimates (assets under supervision, capital ratios, risk-weighted assets, supplementary leverage ratio, balance sheet data, global core liquid assets, and VaR) may be revised in the firm’s Quarterly Report on Form 10-Q. The effective tax rate for the first nine months of 2026 was 20.4%, up from 18.5% for the first half of 2026, primarily due to a decrease in the impact of tax benefits on the settlement of employee share-based awards. Beginning in the fourth quarter of 2025, certain assets under supervision have been reclassified from fixed income to alternative investments.

Price and volatility reaction

The stock moved -0.2% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -1.8 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-13 (8-K, Item 2.02). Read the original filing on sec.gov.