The Goldman Sachs Group, Inc. has reported its first quarter earnings for 2025, showing a strong performance with net revenues of $15.06 billion and net earnings of $4.74 billion. Diluted earnings per common share (EPS) for the first quarter of 2025 stood at $14.12, compared with $11.58 for the first quarter of 2024 and $11.95 for the fourth quarter of 2024. The annualized return on average common shareholders’ equity (ROE) was 16.9%, and the annualized return on average tangible common shareholders’ equity (ROTE) was 18.0% for the first quarter of 2025.
In terms of specific business segments, Global Banking & Markets generated net revenues of $10.71 billion, a 10% increase over the first quarter of 2024. Asset & Wealth Management reported net revenues of $3.68 billion, showing a 3% decrease from the first quarter of 2024. Platform Solutions recorded net revenues of $676 million, a 3% decrease from the first quarter of 2024.
The provision for credit losses was reported at $287 million for the first quarter of 2025, down from $318 million for the first quarter of 2024. Operating expenses totaled $9.13 billion for the first quarter of 2025, reflecting a 5% increase from the first quarter of 2024. The effective income tax rate for the first quarter of 2025 was 16.1%, down from the full-year rate of 22.4% for 2024.
In terms of capital returns to shareholders, the firm returned $5.34 billion of capital to common shareholders in the first quarter of 2025, including $4.36 billion of common share repurchases and $976 million of common stock dividends.
Following these announcements, the company's shares moved 1.1%, and are now trading at a price of $500.0. For more information, read the company's full 8-K submission here.
