The Goldman Sachs Group, Inc. · 2026 Q2
ReportedJul 14, 2026
Period endedJun 30, 2026
Rule of 40+71
Consensus vs reported
EPS
BEAT +45%
$20.98
vs $14.47 expected
QoQ+19.5%
YoY+92.3%
Revenue
BEAT +24%
$20.34B
vs $16.40B expected
QoQ+18.1%
YoY+43.2%
QoQ and YoY are measured on the same basis as each panel's own consensus, so no panel compares two different measures.
Reported this quarter
Revenue
$20.34B
QoQ +18.1%
YoY +43.2%
EPS
$20.98
QoQ +19.5%
YoY +92.3%
Free Cash Flow
$5.60B
QoQ —
YoY —
FCF Margin
27.5%
QoQ +215.8 pp
YoY +293.3 pp
Each tile opens the full quarterly series. Download the numbers as CSV or JSON.
What we learned
- EPS grew 92% on revenue that grew 39%, and the operating leverage is disclosed. The efficiency ratio fell 600 basis points to 57.4% . Net revenues of $20.3B against $14.6B produced net earnings of $6.6B against $3.7B — profit growing at twice the rate of the top line, from cost that did not move w…
- The record was in two lines and both are cyclical. Equities trading printed an all-time record $7.4B, up 72% , and investment banking fees $3.4B, up 55%, with equity underwriting up 130%.
- The mix shift Goldman has been claiming for years showed up in the numbers. Records in both equities financing and FICC financing in the same quarter — the recurring prime-brokerage and financing side, not the episodic intermediation side.
- The consumer retreat finished paying its bill. Platform Solutions revenue fell 64% on Apple Card portfolio markdowns. In a quarter where every other segment set a record, the one line that collapsed is the one Goldman chose to exit.
- Capital return and the capital buffer both rose, which is the real strength signal. $5.36B returned, the dividend raised 11% to $5.00 a share, and CET1 up to 12.9% from 12.5% in the same quarter. Provisions fell to $102M from $384M on a loan book that grew to $261B.
Coverage around this release
R40
Two Segments Named Platform Fell Off a Cliff in the Same Quarter. One Was the Plan, the Other Was a Customer Leaving.
News · Aug 3, 2026
R40
We Published Four Bank Capital Ratios in One Week. The Highest One Got the Most Sceptical Adjective.
News · Aug 3, 2026
R40
Goldman Sachs Q2 2026: Record Revenue, EPS Up 92% — And the Stock Got the Memo
News · Jul 14, 2026
Estimate against reported
Our published estimate
Reported EPS
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| 2024 Q3 | — | $8.40 | — |
| 2024 Q4 | — | $11.95 | — |
| 2025 Q1 | — | $14.12 | — |
| 2025 Q2 | — | $10.91 | — |
| 2025 Q3 | — | $12.25 | — |
| 2025 Q4 | — | $14.01 | — |
| 2026 Q1 | — | $17.55 | — |
| 2026 Q2 | $14.47 | $20.98 | +45% |
Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.
Sources & downloads
Company
Published by the company on the day of the release.
HTML
Earnings press release
Investor relations announcement
SEC filings
Filed with the SEC under CIK 886982.
HTML
8-K results announcement
Filed Jul 14, 2026
HTM
Press release (EX-99.1)
Exhibit 99.1 to the 8-K
872 KB
HTM
Exhibit EX-99.2
Exhibit 99.2 to the 8-K
40 KB
HTML
Filing index
Every document in the 8-K submission
TXT
Complete submission
Raw archival text of the whole filing
JSON
Company facts (XBRL)
Every figure GS has reported to the SEC
R40 data
The numbers shown on this page, as we hold them.
CSV
This quarter (CSV)
Reported metrics for 2026 Q2, spreadsheet-ready
JSON
This quarter (JSON)
Metrics, dates and matched filings