Goldman Sachs Reports 20% Increase in Q3 Revenue for 2025

Goldman Sachs Group Inc. reported a robust financial performance for the third quarter of 2025, with net revenues reaching $15.18 billion—a 20% increase from the same period in 2024. The firm achieved net earnings of $4.10 billion, translating to earnings per share (EPS) of $12.25, surpassing analyst expectations of $11.02. The annualized return on average common shareholders’ equity (ROE) stood at 14.2%.

The Global Banking & Markets division was a significant contributor, reporting net revenues of $10.12 billion. Investment banking fees within this segment rose by 42% to $2.66 billion, driven by increased mergers and acquisitions (M&A) and debt underwriting activities. The Asset & Wealth Management segment also performed strongly, achieving net revenues of $4.40 billion—a 17% year-over-year increase—and reaching a record $3.45 trillion in assets under supervision.

In line with its "One Goldman Sachs 3.0" initiative, the firm is focusing on enhancing productivity through artificial intelligence (AI) integration. This strategy aims to centralize operations and boost efficiency in areas such as sales, client onboarding, lending, regulatory reporting, and vendor management. CEO David Solomon emphasized the importance of this initiative, stating, "Longer term, we are prioritizing the need to operate more efficiently to seamlessly deliver the firm to our clients helped by new AI technologies."

Despite the strong financial performance, Goldman Sachs' stock experienced a 2.39% decline in pre-market trading following the earnings announcement, trading at $768, down from the previous close of $786.78.

The third quarter of 2025 saw a significant rebound in dealmaking activities, contributing to the strong performance of major banks. Goldman Sachs advised on over $1 trillion in M&A deals year-to-date, including high-profile transactions such as Electronic Arts' $55 billion sale and Comerica’s $10.9 billion acquisition by Fifth Third Bancorp.

Goldman Sachs' robust earnings reflect a broader trend of economic recovery and increased corporate confidence in pursuing strategic transactions. The firm's focus on AI integration underscores the growing importance of technology in enhancing operational efficiency within the financial sector.

Founded in 1869, Goldman Sachs is a leading global investment banking, securities, and investment management firm headquartered in New York City. The firm provides a wide range of financial services to a diversified client base, including corporations, financial institutions, governments, and individuals.

As of October 21, 2025, Goldman Sachs' stock was trading at $758.98, reflecting a slight decrease from the previous close.