Goldman Sachs Q3 profit tops estimates on investment banking strength

Goldman Sachs group

13/10/2026 12:39

Overview
Investment bank's Q3 revenue and EPS beat analyst expectations
Net income for Q3 rose to $5.29 bln
Q3 revenue growth driven by higher Global Banking & Markets net revenues

Outlook
Goldman Sachs did not provide specific guidance for future quarters or full-year results in the release

Result Drivers
GLOBAL BANKING & MARKETS - Significantly higher net revenues in Global Banking & Markets, especially in equities and investment banking, drove overall revenue growth
EQUITIES REVENUE SURGE - Equities net revenues rose 72% year-over-year, driven by higher revenues in equities financing and intermediation
ASSET & WEALTH MANAGEMENT - Higher management and other fees, along with increased incentive fees, contributed to revenue growth in Asset & Wealth Management

Company press release: Full Story

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$18.68 bln
$16.71 bln (15 Analysts)
Q3 EPS
Beat
$17.01
$13.02 (19 Analysts)
Q3 Net Income
 
$5.29 bln
 
Q3 ROE
 
18.70%
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 9 "strong buy" or "buy", 15 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the investment banking & brokerage services peer group is "buy."
Wall Street's median 12-month price target for The Goldman Sachs Group, Inc. is $1,130.00, about 26.4% above its October 12 closing price of $893.95
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads
Oct 13 - JPMorgan hit by slowdown in investment banking momentum, shares slip 
Oct 13 - Wells Fargo profit rises on robust loan growth, interest income
Oct 13 - JPMorgan's Q3 adjusted EPS, revenue miss estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

Press Release https://www.goldmansachs.com/pressroom/press-releases/current/pdfs/2026-q3-results.pdf
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)