Profit climbed 19% year-over-year to $5.63 billion, driven by a record quarter for Goldman's equities desk
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Goldman Sachs $GS reported net revenues of $17.23 billion and net earnings of $5.63 billion for the first quarter ended March 31, 2026, the company said Monday. Diluted earnings per share came in at $17.55, and annualized return on average common shareholders' equity was 19.8%.
On a year-over-year basis, those figures represented a 19% rise in profit and a 14% rise in revenue, per CNBC. Both figures topped analyst expectations, with the revenue result marking the firm's second-highest quarterly total on record.
Equities trading was the standout business unit. At $5.33 billion, the segment posted a 27% gain over the year-ago period. CNBC attributed the strength to growth in prime brokerage lending to hedge funds and robust volume in cash equities. The result represented a record quarter for Goldman's equities desk.
Fixed income brought in $4.01 billion, down 10% from a year earlier, as the firm pointed to weakness across interest rate products, the mortgage market, and credit as factors weighing on the unit.
"Goldman Sachs delivered very strong performance for our shareholders this quarter, even as market conditions became more volatile," CEO David Solomon said in a statement. "Our clients continue to depend on us for high quality execution and insights amid the broader uncertainty, and we remain confident in how we've positioned our businesses. The geopolitical landscape remains very complex — so disciplined risk management must remain core to how we operate."
Goldman Sachs stock was off about 4% in pre-market trading on Monday as broader market indexes fell. The stock is up about about 4% so far this year.
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