The Goldman Sachs Group (NYSE:GS) Releases Earnings Results, Beats Expectations By $1.63 EPS

14 Apr 2026, 11:20 by Kim Johansen · The Markets Daily

The Goldman Sachs Group (NYSE:GS – Get Free Report) announced its quarterly earnings data on Monday. The investment management company reported $17.55 earnings per share for the quarter, beating the consensus estimate of $15.92 by $1.63, FiscalAI reports. The Goldman Sachs Group had a net margin of 13.73% and a return on equity of 15.72%. The business had revenue of $17.23 billion for the quarter, compared to analyst estimates of $16.66 billion. During the same period in the prior year, the business posted $14.12 earnings per share. The Goldman Sachs Group’s revenue was up 14.4% compared to the same quarter last year.

Here are the key takeaways from The Goldman Sachs Group’s conference call:

Goldman reported its second-highest quarter ever with $17.2B net revenues, $5.6B net earnings and EPS of $17.55, driving a 19.8% ROE and 21.3% ROTE.
Global Banking & Markets hit record revenues ($12.7B) with a record equities quarter and meaningful growth in financing (notably in Asia), where financing now makes up ~40% of FICC & Equities revenues.
Asset & Wealth Management reached a record $3.7T assets under supervision with $62B long-term inflows, closed the Innovator ETF deal (+$31B), and alternatives fundraising of $26B (including $10B in private credit).
Common equity fell to a 12.5% CET1 ratio (down ~180 bps) after deploying capital into prime/acquisition financing and higher market-risk RWAs and returning $6.4B to shareholders (including $5B buybacks), reducing capital flexibility.
Operating expenses were $10.4B (efficiency ratio 60.5%) as transaction-driven non-comp costs rose and the firm is accelerating investments in cloud, data and AI (One GS 3.0) to drive longer-term efficiency gains.

The Goldman Sachs Group Stock Down 1.9%

NYSE:GS opened at $890.88 on Tuesday. The Goldman Sachs Group has a 1 year low of $492.69 and a 1 year high of $984.70. The stock has a 50-day moving average price of $869.32 and a two-hundred day moving average price of $855.18. The stock has a market cap of $262.80 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.19 and a beta of 1.32. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.60.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 1st will be paid a $4.50 dividend. This represents a $18.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 1st. The Goldman Sachs Group’s payout ratio is presently 35.09%.

Insider Activity at The Goldman Sachs Group

In other news, Treasurer Carey Halio sold 2,846 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $927.17, for a total transaction of $2,638,725.82. Following the transaction, the treasurer owned 2,017 shares in the company, valued at $1,870,101.89. The trade was a 58.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David M. Solomon sold 272 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $938.92, for a total value of $255,386.24. Following the sale, the chief executive officer directly owned 125,527 shares of the company’s stock, valued at approximately $117,859,810.84. The trade was a 0.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 117,283 shares of company stock valued at $112,016,033 over the last 90 days. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Sparrow LLC DE bought a new stake in The Goldman Sachs Group in the 4th quarter valued at $228,069,000. Bank of America Corp DE increased its holdings in The Goldman Sachs Group by 3.4% during the 4th quarter. Bank of America Corp DE now owns 5,978,034 shares of the investment management company’s stock worth $5,254,692,000 after purchasing an additional 194,109 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of The Goldman Sachs Group by 89.8% in the 4th quarter. Toronto Dominion Bank now owns 388,185 shares of the investment management company’s stock valued at $341,214,000 after purchasing an additional 183,676 shares during the period. Sherman Porfolios LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $153,479,000. Finally, Pinebridge Investments LLC bought a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at about $123,866,000. 71.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on GS shares. Morgan Stanley dropped their target price on shares of The Goldman Sachs Group from $1,078.00 to $1,021.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Bank of America raised their price target on The Goldman Sachs Group from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Argus upped their price objective on The Goldman Sachs Group from $863.00 to $1,066.00 and gave the company a “buy” rating in a report on Friday, January 16th. Barclays increased their target price on The Goldman Sachs Group from $850.00 to $1,048.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, UBS Group restated a “neutral” rating and set a $930.00 target price on shares of The Goldman Sachs Group in a report on Monday. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $924.24.

Read Our Latest Stock Analysis on The Goldman Sachs Group

More The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

Positive Sentiment: Q1 beat: GS reported $17.55 EPS and $17.23B revenue with record equities trading and strong investment‑banking fees — the core beats underpin the bullish case for revenue momentum. Goldman Q1 Earnings Beat on Record Equities Revenues, Shares Fall (Revised)
Positive Sentiment: Capital return / income: Goldman declared a $4.50 quarterly dividend (2.0% yield), which supports income‑seeking investors and signals confidence in cash flow.
Neutral Sentiment: Strategic positioning: Management reiterated growth plans — targeting $300B in private credit and accelerating cloud/data investments — indicating longer‑term revenue diversification but with near‑term execution costs. Goldman Sachs outlines path to $300B private credit target while accelerating cloud and data investments
Neutral Sentiment: Macro/research notes: Goldman research flagged a surge in data‑center power demand (AI tailwind) and continues active equity research/coverage moves — helpful for market positioning but indirect for GS share moves. AI Power Boom Is ‘Accelerating’ As Goldman Sachs Forecasts Data Center’s Demand To Surge 220% By 2030
Negative Sentiment: FICC weakness: Fixed Income, Currencies & Commodities revenue fell ~10% YoY, which offset some of the equities strength and drove investor disappointment despite the headline beat. Goldman Q1 Earnings Beat on Record Equities Revenues, Shares Fall (Revised)
Negative Sentiment: Higher expenses & credit provisions: Operating expenses rose (transaction‑based costs and comp), and rising provisions for credit losses were flagged — both reduce near‑term margins and worried some investors. Goldman Sachs’ Rising Provisions For Credit Losses Are Signaling Stress
Negative Sentiment: Geopolitical risk: CEO David Solomon warned a prolonged Iran conflict could be a headwind (inflation, oil, dealmaking uncertainty), adding to investor risk aversion. Goldman Sachs’ CEO Says Iran Conflict Could Be a ‘Headwind’ If It Drags On
Negative Sentiment: Analyst reactions & profit‑taking: Some analysts trimmed GS targets and the stock experienced profit‑taking after an extended run; UBS reaffirmed neutral with a $930 PT, keeping upside views mixed. Analyst Cuts The Goldman Sachs Group (GS) Price Target, Increases Q2 EPS Estimate

The Goldman Sachs Group Company Profile

(Get Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.