The Goldman Sachs Group, Inc. (GS)
The Goldman Sachs Group, Inc. (GS): revenue, margins and EPS from its SEC filings, and Graham's reads as they come out.
Dow ·
Goldman Sachs reported a blowout quarter with $18.7 billion in revenue, significantly outperforming major Wall Street rivals.
What Happened Blowout Earnings: Fortune reported on October 15, 2026, that Goldman Sachs posted a blowout quarter of $18.7 billion in revenue, highlighting a stark earnings divergence on Wall Street as competitors JPMorgan Chase and Bank of America fell short of expectations. Industrial Portfolio Recapitalization: Business Wire and MT Newswires reported on October 15, 2026, that Goldman Sachs Alternatives partnered with Meritex to recapitalize a 1.2 million square foot infill industrial real estate portfolio in Atlanta. Volta AI Debt Syndication: Bloomberg reported on October 15, 2026, that Goldman Sachs and JPMorgan Chase had to raise the yield on a leveraged loan for Volta AI to successfully lure investors. CEO Macro Outlook: Benzinga reported on October 15, 2026, that CEO David Solomon warned that "abrupt moves" in interest rates could present headwinds, though he noted the underlying economy remains strong.
Fundamental Impact The $18.7 billion revenue blowout is highly material, confirming robust market-making, debt/equity underwriting, and advisory activity that directly drives Goldman's core investment banking profitability. The Atlanta industrial recapitalization is a positive execution milestone for the Alternatives business, supporting fee-earning assets under management (AUM). The Volta AI loan sweetening is a minor syndication detail, but it serves as a reminder of selective risk aversion in highly leveraged corporate debt markets.
What to Watch Next Watch the momentum of the investment banking deal pipeline and trading volumes to see if this blowout performance is sustainable. Additionally, monitor interest rate volatility and corporate credit spreads to see if the rate headwinds flagged by CEO David Solomon begin to impact deal-making or corporate debt syndication margins.
What happened
- Bloomberg, 2026-10-15: JPMorgan, Goldman Boost Yield on Volta AI Loan to Lure Investors
- Barrons.com, 2026-10-15: Goldman and Berkshire Stand Out After Big Bank Earnings: What the Charts Show
- Benzinga, 2026-10-15: Goldman CEO David Solomon Warns ‘Abrupt Moves’ in Interest Rates Create Headwinds, But ‘Underlying Economy’ Remains Strong
- MT Newswires, 2026-10-15: Goldman Sachs Alternatives Recapitalizes Meritex Properties Portfolio
- Business Wire, 2026-10-15: Meritex and Goldman Sachs Alternatives Recapitalize 1.2 Million Square Foot Infill Industrial Portfolio in Atlanta
- Fortune, 2026-10-15: Wall Street’s earnings split: Goldman’s $18.7 billion blowout quarter—and why JPMorgan and BofA fell short
From its filings
- Quarter ending 2026-06-30: revenue $20.34B (+39.5% vs a year earlier) · EPS 20.98 · filed 2026-08-03
- Quarter ending 2026-03-31: revenue $17.23B (+14.4% vs a year earlier) · EPS 17.55 · filed 2026-05-01
- Quarter ending 2025-12-31: revenue $13.45B (-3.0% vs a year earlier) · EPS 14.04 · filed 2026-02-25
- Quarter ending 2025-09-30: revenue $15.18B (+19.6% vs a year earlier) · EPS 12.25 · filed 2025-10-31
- Quarter ending 2025-06-30: revenue $14.58B (+14.5% vs a year earlier) · EPS 10.91 · filed 2026-08-03
- Quarter ending 2025-03-31: revenue $15.06B (+6.0% vs a year earlier) · EPS 14.12 · filed 2026-05-01
- Quarter ending 2024-12-31: revenue $13.87B (+22.5% vs a year earlier) · EPS 11.94 · filed 2026-02-25
- Quarter ending 2024-09-30: revenue $12.70B (+7.5% vs a year earlier) · EPS 8.40 · filed 2025-10-31
Source: SEC EDGAR, 10-Q/10-K, as filed.