Summary
Goldman Sachs Group, Inc. reported strong financial results for the third quarter and the first nine months of 2025, with net earnings of $4.10 billion and $12.56 billion, respectively. This represents a significant increase compared to the same periods in 2024, driven by broad-based revenue growth across all business segments, particularly in Global Banking & Markets, which saw strong performance in investment banking and FICC activities. The firm's return on equity (ROE) improved to 14.2% for the quarter and 14.6% year-to-date, reflecting the strong operating performance and effective capital deployment. Despite increased operating expenses, largely due to higher compensation and investments in technology, the firm's efficiency ratio improved, signaling effective cost management. Asset & Wealth Management also demonstrated solid growth, with an 11% increase in investment management revenues driven by higher assets under supervision. Platform Solutions continued to improve, with net revenues increasing significantly year-over-year due to the absence of prior-year losses related to divested consumer portfolios. The firm maintained robust capital ratios, with CET1 ratios well above regulatory minimums, and continued to return capital to shareholders through share repurchases and increased dividends.
Financial Highlights
37 data points| Interest Expense | $16.97B |
| Net Income | $4.10B |
| EPS (Basic) | $12.42 |
| EPS (Diluted) | $12.25 |
| Shares Outstanding (Basic) | 309.60M |
| Shares Outstanding (Diluted) | 315.00M |
Key Highlights
- 1Net earnings increased significantly year-over-year, reaching $4.10 billion for Q3 2025 and $12.56 billion for the first nine months of 2025.
- 2Total net revenues grew by 20% year-over-year for Q3 2025 to $15.18 billion, driven by strong performance across all segments, particularly Global Banking & Markets.
- 3Global Banking & Markets saw a substantial increase in investment banking fees (up 42% YoY for Q3), driven by higher advisory and debt underwriting revenues.
- 4Asset & Wealth Management revenues rose 17% year-over-year in Q3 2025, supported by higher management and other fees and strong performance in private banking and lending.
- 5Return on Equity (ROE) improved to 14.2% for Q3 2025 and 14.6% year-to-date, indicating enhanced profitability.
- 6The firm's Common Equity Tier 1 (CET1) capital ratio remained strong, at 14.3% under Standardized Capital Rules and 15.1% under Advanced Capital Rules as of September 30, 2025, well above regulatory minimums.
- 7Goldman Sachs returned $3.25 billion to shareholders in Q3 2025 through $2.00 billion in share repurchases and $1.25 billion in common stock dividends, including an increased quarterly dividend.