Goldman Sachs reports record Q2 earnings, $20.98 EPS

Goldman Sachs reported record-breaking second-quarter earnings on Tuesday, July 14, 2026, as a surge in capital markets activity and strategic dealmaking propelled results far beyond analyst expectations. The investment bank posted earnings per share of $20.98 on net revenue of $20.34 billion, a 39% increase from the same period last year. Both figures set new quarterly records for the firm.

Chairman and CEO David Solomon attributed the performance to strong client activity, an acceleration in strategic transactions, and rising demand tied to artificial intelligence infrastructure investment. He noted that the firm’s investment banking backlog reached its highest level in five years, signaling continued momentum. The results were driven by strength across all major divisions.

Global Banking & Markets generated record revenues of $15.5 billion. The equities business was a standout, with revenues surging 72% year-over-year to a record $7.42 billion, a performance executives linked to multi-year investments in technology and talent, particularly in Asia. Fixed Income, Currency and Commodities (FICC) revenue rose 32% to $4.59 billion. Investment banking fees jumped 55% to $3.40...