Goldman Sachs profit tops estimates on equities strength

Goldman Sachs reported third-quarter net earnings of $5.29 billion, or $17.01 per diluted share, as a sharp rise in equities revenue helped lift results above analyst expectations. The bank recorded $18.68 billion in net revenue for the quarter ended September 30, 2026, according to its results release on Tuesday. Equities revenue climbed 72% from a year earlier to $6.44 billion. Revenue from fixed income, currencies and commodities was $3.47 billion, down 1% year over year. Goldman’s asset and wealth management division reported a 14% increase in revenue. The company’s earnings per share exceeded analyst estimates of $12.86 cited in one comparison using FactSet data and $13.02 in estimates compiled by LSEG. Revenue also topped the $16.83 billion FactSet estimate cited in that comparison. The estimates come from different providers. Net earnings rose from $4.10 billion in the same quarter last year, while diluted earnings per share increased from $12.25. Goldman reported an annualized return on average common shareholders’ equity of 18.7%. Investment-banking fees rose 21% year over year to $3.