[The Goldman Sachs Group Q3 2026 Earnings Call] Goldman Posts Second-Best Quarter Ever With $18.7B Revenue, 72% Equities Surge as Asia Bet Pays Off
Goldman Sachs reported Q3 2026 net revenues of $18.7B, its second-highest ever, driven by a 72% surge in equities revenues and record investment banking advisory fees. CEO David Solomon highlighted strong performance with EPS of $17.01, ROE of 18.7%, and ROTE of 20.5%. Asia's share of firm-wide revenues increased, reflecting strategic investments. Investment banking advisory revenues hit a quarterly record of $1.7B, while Asset & Wealth Management revenues rose 14% to $5.1B.
How this was made
The 30-second read
Why it matters
The disclosure is a full earnings print with detailed segment drivers (equities financing, advisory fees, AUM/inflows) and capital metrics (CET1), which can directly reset near-term expectations for broker-dealer earnings power.
Market read
Traders can use the earnings figures and segment momentum to update expectations for financials and capital markets activity, especially equities financing and investment banking advisory.
What to watch
The article emphasizes financing demand and backlog, but does not quantify credit risk, trading volatility, or potential regulatory/capital constraints beyond the CET1 ratio, which could moderate upside if conditions worsen.
Background
Goldman’s Q3 2026 earnings call frames performance as evidence of a more durable franchise amid higher yields and geopolitical tension.
Ticker impact
Goldman reported Q3 2026 net revenues of $18.7B, with equities revenues up 72% and record advisory fees, plus EPS impact from a $450M charitable contribution.
Likely upward bias as investors price in stronger capital markets and advisory momentum, with EPS normalized for the charitable contribution.
The article provides concrete, company-specific earnings-call figures (revenue, EPS, segment revenue growth, CET1, AUM/inflows) and management commentary on financing demand and backlog.
Market effects
Signals strength in investment banking advisory and equities financing demand, which can lift sentiment across large-cap broker-dealers and capital markets activity.
Highlights a structural shift toward Asia in firm-wide revenue mix, potentially affecting how traders model regional capital markets flows.
Reinforces that higher rates and geopolitical/oil volatility did not derail Goldman’s trading and financing franchise, supporting risk appetite in financials.
Counterpoint
The headline EPS is distorted by a large accelerated charitable contribution, and FICC intermediation was down, suggesting parts of capital markets remain fragile.
Key entities
- companyGoldman Sachs Group
Reported Q3 2026 results and discussed equities financing strength, Asia revenue mix, advisory leadership, and asset/wealth inflows.
- personDavid Solomon
CEO who characterized the quarter as evidence of durability and discussed normalized EPS excluding the charitable contribution.
- personDenis Coleman
CFO who attributed equities financing growth to strong activity across Asia and demand exceeding industry capacity.
