Goldman Sachs Posts Second-Highest Quarterly Revenue

Goldman Sachs reported third-quarter 2026 earnings per share of $17.01 and an annualized return on equity of 18.7%, with net revenues reaching the firm’s second-highest quarterly level. Global Banking & Markets recorded its second-highest net revenues, including record advisory revenue, while investment banking fees benefited from stronger advisory and equity underwriting. Higher transaction-based expenses and compensation costs weighed on results, and the firm recorded a $368 million provision for credit losses, primarily tied to wholesale-loan impairments. The results came as investors expected trading gains across major U.S. banks to ease from exceptional levels, while dealmaking and investment banking activity faced a more uncertain outlook.