Goldman Sachs Reports 20% Increase in Q3 Net Revenues

By Tamara Parker • Tuesday, October 14 15:32 • Permanent Link

Goldman Sachs Group, Inc. has released its third quarter earnings results for 2025, reporting a significant increase in net revenues. The company reported net revenues of $15.18 billion for the third quarter of 2025, which is 20% higher than the third quarter of 2024 and 4% higher than the second quarter of 2025.

In terms of net earnings, Goldman Sachs reported $4.10 billion for the third quarter of 2025 and $12.56 billion for the first nine months of 2025. This represents a notable improvement compared to the same periods in 2024.

The earnings per common share (EPS) for the third quarter of 2025 was $12.25, a substantial increase from $8.40 for the third quarter of 2024 and $10.91 for the second quarter of 2025. The EPS for the first nine months of 2025 was $37.33, up from $28.64 for the first nine months of 2024.

Goldman Sachs also reported an annualized return on average common shareholders' equity (ROE) of 14.2% for the third quarter of 2025 and 14.6% for the first nine months of 2025. Additionally, the book value per common share increased by 1.2% during the third quarter of 2025 and by 5.1% during the first nine months of 2025, reaching $353.79.

Furthermore, the company provided a breakdown of net revenues across its segments. In global banking & markets, net revenues were $10.12 billion for the third quarter of 2025, marking an 18% increase compared to the same period in 2024. The increase was driven by higher net revenues in advisory, equity underwriting, debt underwriting, and other areas.

In asset & wealth management, net revenues were $4.40 billion for the third quarter of 2025, showing a 17% increase compared to the third quarter of 2024. The growth was primarily attributed to higher management and other fees, as well as significantly higher net revenues in private banking and lending.

Additionally, the company reported that it returned $3.25 billion of capital to common shareholders during the quarter, including $2.00 billion of common share repurchases and $1.25 billion of common stock dividends. The firm's global core liquid assets averaged $481 billion for the third quarter of 2025, compared with an average of $462 billion for the second quarter of 2025.

Today the company's shares have moved 2.93% to a price of $786.78. For the full picture, make sure to review GOLDMAN's 8-K report.

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