Goldman Sachs opened Wall Street’s 2026 earnings season with a near-record quarter, reporting first-quarter net earnings of $5.63 billion as market turbulence drove its trading desks to one of their best showings ever. The Lower Manhattan firm posted net revenues of $17.23 billion — its second-highest quarterly total on record — according to results released April 13, 2026.

The quarter

Diluted earnings per share came in at $17.55, up from $14.12 in the first quarter of 2025 and $14.01 in the fourth quarter, per the company’s earnings release. Net revenues were 14% higher than a year earlier and 28% above the prior quarter. The firm’s annualized return on average common shareholders’ equity was 19.8%.

Both the revenue and earnings figures marked the second-highest quarterly levels in the firm’s history, a reminder that for the largest Wall Street trading houses, volatility is frequently a profit driver rather than a threat.

Trading powers the result

The engine was Goldman’s Global Banking & Markets segment, which delivered record revenues of $12.7 billion and a segment return on equity above 22%. Within it, equities trading was the standout, generating roughly $5.33 billion in net revenues — a 27% jump from a year earlier and a record quarter for the equities desk.

Advisory revenues climbed to about $1.5 billion, up 89% year-over-year on higher completed merger volumes, signaling that the dealmaking rebound that stalled across 2024 and much of 2025 has firmed up. The figures track with results across the New York-centered banking complex, where investment-banking fees and capital-markets activity have rebounded in tandem.

Wealth and asset management

Goldman’s Asset & Wealth Management business reported record assets under supervision of $3.65 trillion, extending a streak of 33 consecutive quarters of long-term fee-based net inflows. The franchise has become a steadier counterweight to the firm’s more cyclical trading and investment-banking lines, a strategic priority the firm has emphasized for years.

Solomon’s read

Chairman and Chief Executive David Solomon said Goldman delivered very strong performance for shareholders even as market conditions became more volatile, noting that clients depend on the firm for high-quality execution and insight amid broader uncertainty — and that disciplined risk management must remain core to how the firm operates.

The hedged framing echoes the tone struck across the big banks this cycle: strong prints paired with caution about a choppy macro backdrop.

A New York anchor

Goldman remains one of New York City’s largest private employers and a benchmark for the city’s financial-services sector. Its results, alongside those of Park Avenue-based JPMorgan Chase and Times Square-area Morgan Stanley, set the tone for a cluster of finance jobs that ripple through Manhattan office demand, tax revenue and the broader city economy. The record trading quarter lands as the city’s office market and Wall Street headcount both show signs of stabilizing after several lean years.

Verification

Frequently Asked Questions

How much did Goldman Sachs earn in Q1 2026?
Goldman Sachs reported net earnings of $5.63 billion for the first quarter of 2026, with diluted earnings per share of $17.55, up from $14.12 a year earlier. Net revenues were $17.23 billion, the firm's second-highest quarterly total on record. Results were released April 13, 2026.
Where is Goldman Sachs headquartered?
Goldman Sachs is headquartered at 200 West Street in Lower Manhattan and is one of New York City's largest financial-services employers. It trades on the NYSE under the ticker GS.
What drove Goldman's strong quarter?
Market volatility fueled record equities-trading revenue within the Global Banking & Markets division, which posted record segment revenues of $12.7 billion. Advisory revenues rose 89% year-over-year on higher completed deal volumes, and the firm reported record assets under supervision of $3.65 trillion.
What did CEO David Solomon say?
Chairman and CEO David Solomon said the firm delivered very strong performance even as market conditions became more volatile, adding that clients depend on Goldman for high-quality execution and that disciplined risk management remains core to how the firm operates.