Goldman Sachs profit has surged in the second quarter (Q2) of 2026, benefitting from a booming trading environment and continued growth in asset and wealth management.
The US-based bank reported net earnings of $6.63bn in the quarter ended 30 June 2026, a 78.2% surge from the $3.72bn in the same period last year.
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Its net revenue increased by 39.5% year-on-year to $20.34bn.
Assets under supervision stood at $4.04tn as of 30 June 2026, supported by $230bn of net inflows and $161bn of market appreciation.
In Global Banking & Markets, revenue totalled $15.52bn in the Q2, 53% above the level reported a year earlier.
Asset & Wealth Management generated $4.6bn in revenue, an increase of 20% from the second quarter of 2025.
Platform Solutions reported revenue of $221m, down 64% from a year earlier.
The provision for credit losses was $102m, compared with $384m in the second quarter of 2025.
The 2025 figure mainly reflected net provisions tied to the credit card portfolio, which was moved to held for sale in the fourth quarter of 2025, along with growth in wholesale loans.
Operating costs rose to $11.67bn, up 26% year on year.
The increase in expenses was mainly linked to sharply higher compensation and benefits costs, reflecting stronger operating performance, as well as transaction-based expenses.
Headcount was 2% lower than at the end of the first quarter of 2026.
Over the quarter, the firm returned $5.36bn to common shareholders, including $4bn in common share buybacks, covering 4.1 million shares at an average price of $984.57, and $1.36bn in common stock dividends.
For the first six months of 2026, Goldman Sachs posted net revenue of $37.57bn and net profit of $12.26bn.
Goldman Sachs CEO and chairman David Solomon said: “Our record performance this quarter reflects the strength of our global franchise, the depth of our relationships, and our ability to harness the power of One Goldman Sachs. Momentum has accelerated throughout our businesses. Clients are turning to us to lead their most strategic and consequential transactions, which are often the genesis of activity across the franchise. We are relentlessly driving our long-term growth strategy across Global Banking & Markets and Asset & Wealth Management, and given what we see in our pipelines, we expect this flywheel of activity to continue.”
In May, Goldman Sachs made changes to its senior leadership, naming two partners to its management committee and appointing a new chief administrative officer.
Stephan Feldgoise, the bank’s head of global mergers & acquisitions, and Joshua Schiffrin, who took on the role of global head of risk for global banking & markets, joined the management committee. Ericka Leslie was named chief administrative officer.
