Goldman Sachs Beats Earnings Expectations as Revenue Climbs

Font: Financial Modeling Prep  • Apr 13, 2026

Goldman Sachs Group Inc. (NYSE: GS) reported first-quarter earnings that exceeded analyst expectations, although shares fell more than 3% intraday Monday following the release.

The investment bank posted earnings per share of $17.55 for the quarter ended March 31, surpassing the consensus estimate of $16.47 by $1.08. Revenue reached $17.23 billion, beating expectations of $16.95 billion and increasing 14% from $15.09 billion in the same quarter last year.

The revenue growth was primarily driven by the Global Banking & Markets division, which generated $12.74 billion in net revenues, up 19% year over year. Investment banking fees surged 48% to $2.84 billion, supported by significantly higher advisory revenues amid increased mergers and acquisitions activity. Equities revenue rose 27% to $5.33 billion, while fixed income, currencies, and commodities (FICC) revenue declined 10% to $4.01 billion.

Asset & Wealth Management revenue increased 10% to $4.08 billion, reflecting higher management fees driven by increased assets under supervision. Meanwhile, Platform Solutions reported revenue of $411 million, down from $610 million in the prior-year quarter, largely due to net markdowns associated with the Apple Card loan portfolio.