Goldman Sachs Reports $16.49 EPS and $16.97 Billion Revenue

Goldman Sachs is scheduled to report its first-quarter earnings for 2026 before the market opens on Monday, April 13, 2026. The financial results will provide insight into the firm’s performance across its trading and investment banking franchises during the start of the year.

Wall Street analysts, according to LSEG, expect the bank to report earnings per share of $16.49 and total revenue of $16.97 billion. Other forecasts, such as those from Intellectia.AI, suggest an expected EPS of $16.34, which would represent a 15.72% increase year-over-year.

Executives from Goldman Sachs will host an earnings conference call to discuss the results at 9:30 a.m. ET on April 13, 2026.

Analyst Expectations and Revenue Breakdown

Market analysts have provided specific projections for the bank’s primary revenue drivers. Expectations for trading revenue include $4.92 billion from fixed income and $4.91 billion from equities.

analysts expect investment banking fees to reach $2.5 billion for the quarter.

The current outlook is supported by a broader industry trend where investment banking revenue is projected to climb by 10% in the quarter, according to Dealogic. Trading activity has also been heightened as institutional investors adjust positions in response to AI-led disruption across various sectors.

Geopolitical and Market Factors

Analysts are focusing on the potential impact of the conflict in Iran, which began on February 28, 2026. This disruptive event has influenced commodity prices and may have caused corporate clients to delay merger activity.

While such instability can slow mergers and acquisitions, it can simultaneously increase trading revenues due to volatility in currencies, bond prices, and interest rates.

Historical Performance and Strategy

The first-quarter 2026 report follows the firm’s 2025 full-year results, which were reported on January 15, 2026. For the year ended December 31, 2025, Goldman Sachs reported net revenues of $58.28 billion and net earnings of $17.18 billion.

The diluted earnings per common share for the full year 2025 was $51.32, with $14.01 attributed to the fourth quarter of 2025. The bank’s return on average common shareholders’ equity (ROE) was 15.0% for 2025, with an annualized ROE of 16.0% in the final quarter of that year.

Since our first Investor Day where we laid out our comprehensive strategy, the firm has grown its revenues by 60%, improved returns by 500 basis points and delivered total shareholder returns of more than 340%.

David Solomon, Chairman and CEO of Goldman Sachs

During the January 15, 2026, announcement, David Solomon stated that the firm expected momentum to accelerate in 2026. He emphasized a continued focus on a disciplined risk management framework and robust standards while deploying capital across the franchise and returning it to shareholders.

In terms of market valuation, Goldman Sachs has a P/E ratio of 15.67, which is below the industry average of 16.20. Shares of the bank have increased by approximately 3% so far in 2026.