Goldman Sachs spustila novou platformu pro bohaté klienty a rodinné kanceláře, která jim umožní přímé investice do soukromých firem a obchodování s těmito podíly na sekundárním trhu. Cílí hlavně na pozdější fáze růstu, včetně AI infrastruktury, tedy na firmy se zavedenými produkty, významnými tržbami a jasnější cestou k ziskovosti.
Goldman Sachs has created a new platform to expand its offerings for wealthy clients and family offices who increasingly want direct stakes in fast-growing private companies, CNBC has learned.
The new group, called the alternative investments platform, combines Goldman's existing alternatives business with two newly established teams, according to a memo seen first by CNBC.
The new teams focus on direct investments in individual private companies, rather than broader private equity funds, and on helping clients buy and sell those stakes, according to the memo.
"There has been a lot of focus on the big growth tech names and getting clients access to those before they debut in the public markets," Kristin Olson, Goldman Sachs' global head of alternatives for wealth, told CNBC in an interview.
Goldman's move reflects two of the biggest trends reshaping Wall Street. The firm has spent years pushing deeper into wealth and asset management because of its perception as providing steadier revenues than investment banking and trading. At the same time, the most successful startups are staying private far longer than they once did, allowing early investors to capture most of the gains before public investors get a chance.
"Companies are going public at a trillion dollars," Olson said. "If you haven't participated along the way, you're clearly missing a big part of the growth cycle."
AI boomGoldman has been arranging direct investments in later-stage private companies for wealthy clients for roughly two decades, Olson said, pointing to Facebook before its 2012 IPO and later SpaceX, Stripe and Canva. But growth in demand for the asset class convinced executives to break out the business, she added.
The firm's goal, Olson said, is to help clients identify promising companies before they become household names.
Rather than targeting early-stage startups, Olson said Goldman generally focuses on later-stage companies that have established products, meaningful revenue and clearer paths toward profitability, seeking what she described as a "sweet spot" between risk and return.
The AI investment boom has only intensified demand. Beyond leading model developers, Goldman is increasingly steering clients toward investments in the infrastructure underpinning AI, including data centers and related projects, Olson said.
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The announcement comes days after Goldman reported record quarterly revenue, with executives highlighting AI-driven activity across investment banking, trading and financing businesses. The results reinforced investors' view that Goldman is positioned to benefit from multiple facets of the AI investment cycle.
The announcement also formalizes Goldman's growing business helping clients find liquidity for private investments.
Through its new secondary advisory group, the firm plans to expand a marketplace that allows clients to buy and sell private holdings while also advising clients looking to exit investments held outside Goldman.
"We said, let's break that out and let's make it very clearly defined as something that we're leaning into," Olson said.
Aire Advisors LLC ve 1. čtvrtletí nově nakoupila 550 akcií Goldman Sachs za zhruba 465 000 USD. Goldman Sachs zároveň oznámila vyšší čtvrtletní dividendu ve výši 5,00 USD na akcii.
Aire Advisors LLC acquired a new stake in The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 550 shares of the investment management company’s stock, valued at approximately $465,000.
A number of other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at approximately $2,515,830,000. Corient Private Wealth LLC grew its position in The Goldman Sachs Group by 1,657.7% in the fourth quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company’s stock worth $2,282,312,000 after acquiring an additional 2,448,767 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group during the 1st quarter worth $2,024,921,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of The Goldman Sachs Group by 428.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,254 shares of the investment management company’s stock worth $488,947,000 after purchasing an additional 450,984 shares during the last quarter. Finally, Diamant Asset Management Inc. raised its holdings in shares of The Goldman Sachs Group by 84,499.0% during the 1st quarter. Diamant Asset Management Inc. now owns 422,995 shares of the investment management company’s stock valued at $35,785,000 after purchasing an additional 422,495 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.
The Goldman Sachs Group Trading Down 2.7% GS stock opened at $1,066.28 on Friday. The Goldman Sachs Group, Inc. has a fifty-two week low of $691.88 and a fifty-two week high of $1,153.99. The stock has a market capitalization of $314.56 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 1.24 and a beta of 1.30. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The business has a fifty day moving average price of $1,035.20 and a 200 day moving average price of $945.44.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, topping the consensus estimate of $14.47 by $6.51. The firm had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 18.59%. The Goldman Sachs Group’s revenue was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.91 EPS. Analysts expect that The Goldman Sachs Group, Inc. will post 64.34 EPS for the current fiscal year.
The Goldman Sachs Group Increases Dividend The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $5.00 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $20.00 annualized dividend and a yield of 1.9%. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 27.78%.
Analyst Upgrades and Downgrades Several equities research analysts recently issued reports on the stock. Rothschild & Co Redburn lifted their price objective on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. increased their price objective on The Goldman Sachs Group from $900.00 to $955.00 and gave the company a “neutral” rating in a report on Wednesday. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a “market perform” rating in a research note on Wednesday. BNP Paribas Exane reduced their target price on The Goldman Sachs Group from $970.00 to $940.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Finally, Oppenheimer lowered shares of The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1,061.43.
View Our Latest Research Report on The Goldman Sachs Group
The Goldman Sachs Group News Roundup Here are the key news stories impacting The Goldman Sachs Group this week:
Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results. Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play. Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels. Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program. Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue. Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook. Insider Transactions at The Goldman Sachs Group In other news, CFO Denis P. Coleman sold 6,857 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $973.55, for a total value of $6,675,632.35. Following the transaction, the chief financial officer owned 31,070 shares of the company’s stock, valued at approximately $30,248,198.50. This trade represents a 18.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kathryn H. Ruemmler sold 14,292 shares of The Goldman Sachs Group stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $939.07, for a total transaction of $13,421,188.44. Following the sale, the insider owned 15,657 shares of the company’s stock, valued at approximately $14,703,018.99. This represents a 47.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 32,566 shares of company stock valued at $30,712,978. 0.55% of the stock is owned by company insiders.
About The Goldman Sachs Group (Free Report)
The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.
Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.
Read More Five stocks we like better than The Goldman Sachs Group AST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space Sector Aehr Test Systems Stock Soars on Earnings, Eyes Over 150% Revenue Growth TSMC Just Gave AI Chip Bulls Another Reason to Stay Confident GE Aerospace Faces a Prove-It Moment in Q2 Earnings Want to see what other hedge funds are holding GS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goldman Sachs Group, Inc. (NYSE:GS – Free Report).
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Allspring Global Investments Holdings LLC ve 1. čtvrtletí zvýšila podíl v Goldman Sachs o 58,7 % na 90 848 akcií po nákupu 33 619 kusů. Goldman Sachs zároveň oznámila EPS 20,98 USD a výnosy 20,34 miliardy USD za čtvrtletí, obojí nad odhady.
Allspring Global Investments Holdings LLC grew its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) by 58.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,848 shares of the investment management company’s stock after purchasing an additional 33,619 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in The Goldman Sachs Group were worth $78,149,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of GS. Dagco Inc. bought a new stake in The Goldman Sachs Group during the 4th quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of The Goldman Sachs Group during the fourth quarter valued at approximately $26,000. Manning & Napier Advisors LLC boosted its holdings in The Goldman Sachs Group by 287.5% in the fourth quarter. Manning & Napier Advisors LLC now owns 31 shares of the investment management company’s stock worth $27,000 after purchasing an additional 23 shares during the last quarter. Steph & Co. bought a new stake in The Goldman Sachs Group in the 1st quarter worth approximately $27,000. Finally, Lifetime Wealth Management P.C. purchased a new stake in The Goldman Sachs Group during the 4th quarter valued at $29,000. 71.21% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth Several analysts recently issued reports on the company. Dbs Bank increased their target price on The Goldman Sachs Group from $890.00 to $1,050.00 in a research report on Thursday, May 7th. HSBC raised their target price on shares of The Goldman Sachs Group from $729.00 to $765.00 in a report on Monday, May 4th. Keefe, Bruyette & Woods lifted their target price on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a “market perform” rating in a research report on Wednesday. Weiss Ratings cut The Goldman Sachs Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Finally, UBS Group upped their price target on shares of The Goldman Sachs Group from $940.00 to $1,120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $1,061.43.
Check Out Our Latest Research Report on The Goldman Sachs Group
The Goldman Sachs Group News Summary Here are the key news stories impacting The Goldman Sachs Group this week:
Positive Sentiment: Goldman Sachs was added to the Zacks Rank #1 (Strong Buy) list, reinforcing bullish sentiment around the stock after its strong quarterly results. Positive Sentiment: The bank also made Zacks’ Strong Buy income stocks list, reflecting investor interest in Goldman Sachs as a dividend and total-return play. Positive Sentiment: Bank of America raised its price target on Goldman Sachs to $1,300 from $1,150 and kept a buy rating, implying additional upside from current levels. Positive Sentiment: JPMorgan and other commentary highlighted Goldman Sachs’ strong first-half M&A performance, along with record Q2 results and a 25% dividend increase plus a $4 billion share repurchase program. Positive Sentiment: Goldman Sachs’ equity underwriting revenue jumped sharply, helped by renewed capital markets activity and AI-related deal flow, which supports optimism for future investment banking revenue. Neutral Sentiment: Separately, Goldman Sachs disclosed a 3.5% voting interest in Qiagen, a portfolio-related filing that is not clearly material to Goldman’s own earnings outlook. Insider Transactions at The Goldman Sachs Group In other news, insider Kathryn H. Ruemmler sold 14,292 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $939.07, for a total value of $13,421,188.44. Following the completion of the transaction, the insider directly owned 15,657 shares in the company, valued at $14,703,018.99. This trade represents a 47.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Denis P. Coleman sold 6,857 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $973.55, for a total value of $6,675,632.35. Following the sale, the chief financial officer directly owned 31,070 shares in the company, valued at $30,248,198.50. This trade represents a 18.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 32,566 shares of company stock valued at $30,712,978 over the last 90 days. Insiders own 0.55% of the company’s stock.
The Goldman Sachs Group Stock Performance Shares of The Goldman Sachs Group stock opened at $1,066.28 on Friday. The business has a 50-day moving average of $1,035.20 and a 200 day moving average of $945.44. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.11 and a quick ratio of 0.63. The stock has a market capitalization of $314.56 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.30. The Goldman Sachs Group, Inc. has a 12 month low of $691.88 and a 12 month high of $1,153.99.
The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a return on equity of 18.59% and a net margin of 15.53%.The firm’s revenue for the quarter was up 39.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.91 earnings per share. As a group, sell-side analysts forecast that The Goldman Sachs Group, Inc. will post 64.34 earnings per share for the current year.
The Goldman Sachs Group Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $5.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date is Tuesday, September 1st. This represents a $20.00 annualized dividend and a dividend yield of 1.9%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 27.78%.
About The Goldman Sachs Group (Free Report)
The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.
Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.
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« PREVIOUS HEADLINEAire Advisors LLC Acquires New Position in The Goldman Sachs Group, Inc. $GS
David Solomon z Goldman Sachs řekl, že tento „flywheel of activity“ má pokračovat. Banka ve 2. čtvrtletí zvýšila výnosy o 39 % a zisk na akcii o 92 % meziročně.
The five biggest U.S. banks reported second-quarter earnings on Tuesday, and their results painted a very bright picture for investors. Economic activity is high across sectors, driven by incredible growth in investment banking. Goldman Sachs (GS 4.91%) was one of the biggest winners.
Goldman Sachs is the biggest investment bank in the country, and its stock is trouncing the market this year, up 31%, tripling the S&P 500's comparable gain. But the impact of a strong market and high initial public offering (IPO) activity isn't limited to Goldman Sachs and the other big banks. In his discussion of the results, CEO David Solomon remarked, "We expect this flywheel of activity to continue."
That statement is great news for all investors.
Image source: Getty Images.
The year of record IPOs Goldman Sachs tried its hand at consumer banking through its Marcus venture, but investment banking has always been its main revenue generator, and this division is a microcosm of general underwriting and mergers-and-acquisitions activity.
Here are some of the second-quarter highlights:
Revenue increased 39% year over year. Global banking and markets increased 53% year over year. Earnings per share were up 92% from last year. Return on tangible common equity (ROCTE) was 25.5%, up from 13.6% last year and 21.3% in the first quarter. Solomon noted that there's heightened activity in artificial intelligence (AI) infrastructure spending, and that the effect is rippling across industries. "This is creating significant opportunities for Goldman Sachs to provide structuring, financing, risk management, and capital markets execution across both public and private markets," he explained. Goldman Sachs is benefiting from the windfall; it has established itself as the leader in this industry over more than a century of operations and has strong relationships and a solid reputation.
One of its high-profile activities in the second quarter was serving as the lead underwriter for the record-shattering IPO of Space Exploration Technologies, from which it took in $100 million. It was also involved in the SK Hynix U.S.-based share offering, and it helped raise $85 billion for Alphabet in a secondary offering.
In total, equity underwriting increased 130% to $985 billion.
What it means for the everyday investor Goldman Sachs is enjoying the robust market activity, but as Solomon notes, there's a ripple effect across industries, driven by AI investment. That implies continued growth in AI and AI-adjacent companies, as well as in most companies keeping up with the trend. It also implies more upside for AI stocks.
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The latest inflation data from the Department of Labor was better than expected, with a 3.5% rise in June, and that's another sign of a strengthening economy.
Investors should still tread carefully; historically, high IPO activity has preceded market crashes. For example, there were 397 IPOs in 2000, right before the market crashed, and it took 20 years to get back to that high. There were a record 1,035 IPOs in 2021 before the S&P 500 lost 19% of its value in 2022.
For now, it looks like the AI flywheel is turning, and it's likely to continue for some time.
Goldman Sachs ve 2. čtvrtletí zvýšila tržby meziročně o 39 % na rekordních 20,34 mld. USD a zisk na akcii na 20,98 USD. Rekordní bylo i obchodování s akciemi, kde tržby vyskočily o 72 % na 7,42 mld. USD.
Podobně jako JP Morgan či Bank of America hlásí silné hospodářské výsledky za letošní druhý kvartál také další americká banka Goldman Sachs. Ta zaznamenala rekordní čtvrtletí v obchodování s akciemi - výnosy zde meziročně vzrostly o 72 procent na rekordních 7,42 miliardy dolarů. Pozoruhodná je skutečnost, že se jedná už o třetí čtvrtletí v řadě, během něhož banka překonala v tomto segmentu své předchozí maximum.
Co se týče hlavních čísel, tak celkové tržby vzrostly meziročně o 39 procent na rekordních 20,34 mld. USD při konsenzu 16,35 mld. USD. Zisk na akcii činil 20,98 USD (+92 % y/y), což bylo rovněž výrazně nad odhadem ve výši 14,45 USD.
Banka uvedla, že růst podpořily jak příjmy z financování klientských pozic, tak z aktivit spojených s tvorbou a realizací investičních strategií. Pozitivně překvapilo také obchodování s úrokovými produkty, které se po slabším začátku roku vrátilo k růstu.
Významným zdrojem příjmů bylo také investiční bankovnictví. Poplatky za poradenství při fúzích a akvizicích, emise akcií a dluhopisů dosáhly 3,4 miliardy dolarů a rovněž překonaly očekávání analytiků. Šlo o nejsilnější čtvrtletí investičního bankovnictví Goldman Sachs od roku 2021.
Silné výsledky potvrzují pokračující oživení na trhu korporátních transakcí. Goldman Sachs patřila mezi hlavní organizátory některých nejvýznamnějších obchodů posledních měsíců včetně rekordního vstupu společnosti SpaceX na burzu a kapitálové transakce technologického gigantu Alphabet. Výnosy z akciového financování firem se meziročně více než zdvojnásobily.
Banka si zároveň upevňuje dominantní postavení na trhu fúzí a akvizic. Podle dostupných dat se letos podílela na transakcích v celkovém objemu přesahujícím jeden bilion dolarů a drží více než třetinový podíl na globálním trhu poradenství v oblasti M&A, píše Bloomberg.
Rekordní výsledky přicházejí v období, kdy investoři ve velkém přesouvají kapitál do technologických firem profitujících z rozvoje AI. Akciové trhy přitom pokračovaly v růstu navzdory geopolitickým rizikům spojeným s konfliktem na Blízkém východě. Index S&P 500 zaznamenal během čtvrtletí jeden z nejsilnějších výkonů za poslední roky.
Generální ředitel Goldman Sachs David Solomon již dříve uvedl, že na trzích aktuálně převažuje chuť riskovat nad obavami z možného zpomalení ekonomiky. Investoři podle něj aktivně vstupují do nových akciových emisí a využívají příznivého tržního prostředí.
Goldman Sachs před výsledky za 2. čtvrtletí klesl od letošního maxima o více než 6 % a technicky vytváří medvědí formaci. Trh čeká silné výsledky, ale akcie zůstávají zranitelné.
Goldman Sachs stock has pulled back more than 6% from its year-to-date high and has gradually formed a risky chart pattern ahead of its second-quarter earnings on Tuesday. The stock was trading at $1,055 and appears vulnerable to further downside despite expectations for strong earnings.
The GS stock price has pulled back in the past few weeks, moving from a high of $1,125 on June 15 to $1,055. It has formed a head-and-shoulders pattern, a common bearish reversal sign in technical analysis. Its head is at $1,125, while the right and left shoulders are at $1,100. The neckline is at $1,000.
The stock has also formed what looks like a diamond reversal pattern, which normally leads to a bearish breakout over time. At the same time, the two lines of the MACD indicator formed a bearish crossover and are pointing downwards.
Therefore, there is a risk that the stock will retreat in the coming weeks, potentially to the neckline at $1,000. The bearish outlook will become invalid if it jumps above the head section of $1,125.
GS stock chart | Source: TradingView
On the positive side, all signs are that the company will publish strong financial results on Tuesday this week.
All indications are that its business is having one of its best years. For example, data compiled by the Wall Street Journal shows that Goldman Sachs has advised M&A deals worth over $1.2 trillion this year, much higher than JPMorgan’s $843 billion.
Goldman Sachs has also led as the top bookrunner in IPOs this year, with the value of deals rising to over $67.9 billion, higher than last year’s $35 billion. Dealogic estimates that its investment banking revenue jumped to over $5.7 billion, higher than last year’s $4.1 billion.
The most recent results showed that its business boomed in the first quarter, with the Global Banking and Markets division rising by 11% to over $12.7 billion. Its asset and wealth management revenue rose by 10% to $4 billion.
READ MORE: Goldman Sachs stock has soared: here’s why it has more gains ahead
This growth likely continued growing in the second quarter as its investment banking and trading businesses soaring. Its investment banking revenue is benefiting from major deals, including the recent SpaceX IPO and the recent SK Hynix listing. It also took part in the $67 billion deal between NextEra and Dominion Energy.
Trading has also continued booming this year, helped by the US-Iran war that has led to substantial market volatility.
Analysts anticipate that the upcoming results will show that its business continued to boom. The average estimate is that its revenue rose by 12.50% to $16.4 billion, while its guidance for the third quarter will be $16 billion. Goldman has a long history of doing better than expected.
Analysts have a bullish outlook for the company. Bank of America boosted its target from $1,050 to $11,50, while UBS hiked from $940 to $1,120. BMO Capital Markets and Morgan Stanley hiked to $1,070 and $1,099.
Goldman Sachs oznámí výsledky za 2. čtvrtletí 14. července po silném 1. čtvrtletí, kdy tržby z investičního bankovnictví vzrostly o 48 % na 2,84 miliardy USD.
Goldman Sachs (GS +2.56%), one of the premier investment banks in the world, is coming off a strong first quarter, fueled by record mergers and acquisitions activity.
So what will it do for an encore?
We'll find out in a few days, as Goldman Sachs posts its second-quarter earnings results on Tuesday, July 14.
Here's what to expect.
Image source: Getty Images.
M&A fuels blowout Q1 The first quarter was one of the best in recent years for merger and acquisition (M&A) activity, with global deal volume rising some 50% year over year to $1.6 trillion.
Goldman Sachs was a huge beneficiary of that surge in activity, ranking No. 1 in volume of deals and No. 2 in the number of deals. It facilitated five deals worth more than $10 billion, including the pending merger of Unilever and spice company McCormick.
It drove Goldman Sachs to blowout earnings in Q1 as investment banking revenue rose 48% year over year to $2.84 billion. Total revenue climbed 14% to $17.2 billion while net earnings increased 19% to $5.6 billion.
Goldman Sachs is not only the largest investment banking firm, but it also derives a larger percentage of revenue from M&A than its major competitors. So, when M&A and investment banking is hot, Goldman Sachs typically outperforms. Year to date, Goldman Sachs shares are up 20%, and they have gained 51% over the past 12 months.
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What to expect in Q2 With Q2 now complete and an earnings report right around the corner, investors will be watching to see whether Goldman Sachs can maintain its momentum.
Wall Street analysts anticipated about $16.3 billion in revenue in Q2, which would be down from Q1 but up some 11% year over year. Earnings are targeted at $14.16 per share, which would be up 30% year over year.
The lower expected numbers in Q2 are not unusual, as investment banking results are typically the best in Q1 due to fresh budget allocations and other factors. On top of that, it was a historically good quarter for M&A, so it would be hard for Goldman Sachs to replicate.
But I wouldn't be shocked to see a surprise on the upside in Q2. Investment banking and M&A have remained hot in Q2, highlighted by the Space Exploration Technologies, or SpaceX, IPO, which Goldman Sachs was the lead underwriter on. Analysts said it could be one of the biggest underwriting payouts ever, generating some $100 million in fees for Goldman Sachs.
According to M&A law firm A.O. Shearman, there was $2.8 trillion in global deal volume in the first half of 2026, the most since 2021. That would be up from $2.7 trillion in the same period last year.
Deal-making was not as robust in Q2 -- the $2.8 trillion total would suggest it hit $1.2 trillion in Q2 -- but it was still strong. And the market will remain hot in the second half, particularly for Goldman Sachs, which is the co-lead advisor on the Anthropic IPO, which is expected in the second half of 2026.
That should be good news for Goldman Sachs. I'd expect another strong quarter for the investment banking firm, and its stock should move higher given its fairly low valuation of 17 times earnings.
Goldman Sachs má podle Wall Street vykázat ve čtvrtletí zisk 14,47 USD na akcii a tržby 16,49 miliardy USD, což je meziročně o 32,6 % a 13,1 % více. Odhad EPS byl za 30 dní zvýšen o 3,5 %.
In its upcoming report, Goldman Sachs (GS - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $14.47 per share, reflecting an increase of 32.6% compared to the same period last year. Revenues are forecasted to be $16.49 billion, representing a year-over-year increase of 13.1%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 3.5% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Goldman metrics that are commonly monitored and projected by Wall Street analysts.
It is projected by analysts that the 'Net Revenues- Platform Solutions- Total' will reach $251.13 million. The estimate indicates a change of -63.3% from the prior-year quarter.
According to the collective judgment of analysts, 'Net Revenues- Global Banking & Markets- Equities' should come in at $5.26 billion. The estimate suggests a change of +22.3% year over year.
The combined assessment of analysts suggests that 'Net Revenues- Global Banking & Markets- Other' will likely reach $142.50 million. The estimate points to a change of -11.5% from the year-ago quarter.
Analysts expect 'Net Revenues- Global Banking & Markets- Investment banking fees' to come in at $2.90 billion. The estimate suggests a change of +32.3% year over year.
Analysts forecast 'Net Revenues- Global Banking & Markets- Total' to reach $12.11 billion. The estimate indicates a year-over-year change of +19.6%.
Based on the collective assessment of analysts, 'Net Revenues- Asset & Wealth Management- Private banking and lending' should arrive at $638.94 million. The estimate points to a change of -19% from the year-ago quarter.
The average prediction of analysts places 'Net Revenues- Global Banking & Markets- FICC' at $3.81 billion. The estimate suggests a change of +9.8% year over year.
The consensus among analysts is that 'Net Revenues- Asset & Wealth Management- Total' will reach $4.18 billion. The estimate indicates a change of +10.7% from the prior-year quarter.
Analysts' assessment points toward 'Book Value Per Share' reaching $365.72 . The estimate compares to the year-ago value of $349.74 .
The consensus estimate for 'Assets Under Supervision (AUS) - Total' stands at $3818.46 billion. Compared to the present estimate, the company reported $3293.00 billion in the same quarter last year.
Analysts predict that the 'Standardized Capital Rules - Common equity tier 1 capital ratio' will reach 12.9%. Compared to the present estimate, the company reported 14.5% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Leverage ratio' of 4.4%. The estimate is in contrast to the year-ago figure of 5.3%.
View all Key Company Metrics for Goldman here>>>
Shares of Goldman have demonstrated returns of +2.8% over the past month compared to the Zacks S&P 500 composite's +1.1% change. With a Zacks Rank #2 (Buy), GS is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Goldman Sachs chce do roku 2030 spravovat 750 miliard USD v alternativních aktivech, z nynějších 429 miliard. Cíl staví na trhu soukromých trhů v řádu bilionů USD.
Goldman Sachs (NYSE:GS | GS Price Prediction) is chasing a private markets opportunity measured in the trillions, and the firm has put a hard number on how much of it it wants to own – $750 billion in alternative assets under supervision by 2030. That target sits inside a private credit landscape CEO David Solomon sized on the Q1 2026 call at roughly $3.5 trillion in total assets, with $1.6 trillion to $1.7 trillion in direct lending alone, and adjacent to a private equity pool of roughly $4 trillion in enterprise value of sponsor-owned companies waiting for exits. Goldman’s own alternatives book stands at $429 billion today.
The gap between where the firm is and where it wants to be is the story (roughly $2 trillion in private markets).
What It Means The $750 billion target rests on a concrete annual fundraising target of $75 billion to $100 billion, and the run rate is already there. Goldman raised $26 billion in gross third-party alternatives in Q1 2026, of which $10 billion went into private credit strategies. Full-year 2025 gross alternatives fundraising hit a record $115 billion, and cumulative alternatives raised since 2019 now total $464 billion.
Firmwide assets under supervision hit a record $3.65 trillion, with $62 billion of long-term fee-based net inflows marking the 33rd consecutive quarter of positive flow. Notably, Goldman Sachs management and other fees rose 14% year over year. This is a capital-light annuity business being layered on top of a capital-markets franchise.
Market Reaction Goldman shares closed at $1,021 on July 2, 2026, up 17.26% year to date from $870.70 at the December 31, 2025 close. Over one year, the stock is up 45.46%, and over five years 207.96%. The last month has seen this growth cool (with GS stock off a little more than 4%), and the analyst consensus price target of $978.35 now sits below the current price.
Bull Case Goldman’s Q1 2026 earnings report already showed what happens when the alternatives flywheel spins alongside a hot deal market. The company posted EPS of $17.55, beating the $16.24 consensus by 8.07%, on $17.23 billion in net revenue. Net income of $5.63 billion rose 18.83% year over year, return on equity hit 19.8%, and return on tangible equity reached 21.3%, well above the through-the-cycle target of 14% to 16%. Advisory revenue climbed 89% year over year to $1.49 billion, and total investment banking fees rose 48% to $2.84 billion.
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The private markets push is being reinforced by acquisitions. The Industry Ventures deal closed in Q1 2026, adding $5 billion in alternative AUS inflows in venture capital secondaries, and the Innovator Capital Management acquisition closed in Q2 2026, adding $31 billion in AUS and vaulting Goldman into the top 10 of global active ETF providers. Solomon called out a 30-year track record in private credit, and CFO Denis Coleman noted that “Our life-to-date realized losses, if you exclude some direct commercial real estate, are 0″ in the FICC financing book. Institutional investors make up over 80% of partners, insulating the platform from the retail redemption pressure hitting peers.”
I think what’s important to note is that this is a company with a very aggressive capital return profile. Goldman returned $6.38 billion to shareholders in Q1 via buybacks and dividends, repurchased 5.4 million shares at an average $923.49, and has roughly $32 billion remaining under buyback authorization. The bank’s CET1 ratio sits at an impressive 12.5%, 110 basis points above requirement.
Bottom Line Long-term holders own a firm converting a cyclical capital-markets engine into a fee-based alternatives platform, at scale, on a stated glide path from $429 billion to $750 billion by 2030. The stock trades at a forward earnings multiple of 17 with a dividend yield of 1.53% and a next dividend already paid on June 29, 2026.
Goldman’s Q2 2026 earnings are the next catalyst, with the Street modeling EPS of $13.95 on revenue of $15.9 billion. The private markets pie is measured in trillions. Goldman just told investors exactly how big a slice it plans to carve out.
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Goldman Sachs čeká za čtvrtletí zisk 14,01 USD na akcii a tržby 16,31 miliardy USD, což by znamenalo meziroční růst o 28,4 % a 11,8 %. Analytici navíc po úpravách odhadů vidí vyšší šanci na překonání konsenzu.
Wall Street expects a year-over-year increase in earnings on higher revenues when Goldman Sachs (GS - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 14. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis investment bank is expected to post quarterly earnings of $14.01 per share in its upcoming report, which represents a year-over-year change of +28.4%.
Revenues are expected to be $16.31 billion, up 11.8% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 2.62% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Goldman?For Goldman, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +2.07%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination indicates that Goldman will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Goldman would post earnings of $16.34 per share when it actually produced earnings of $17.55, delivering a surprise of +7.41%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Goldman appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
The Goldman Sachs Group, Inc. (NYSE:GS) will release its second quarter earnings report before the opening bell on Tuesday, July 14.
Analysts expect the New York-based company to report quarterly earnings of $13.95 per share, up from $10.91 per share in the year-ago period. The consensus estimate for Goldman Sachs’ quarterly revenue is $15.9 billion. It reported $14.58 billion last year, according to Benzinga Pro.
On June 24, Goldman Sachs announced plans to raise quarterly dividend from $4.50 to $5.00 per share, pending board approval.
Goldman Sachs shares fell 0.9% to close at $1,011.37 on Tuesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
Considering buying GS stock? Here’s what analysts think:
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Private credit fond Goldman Sachsu ve 2. čtvrtletí čelil žádostem o odkup jen na zhruba 3,24 % podílů na fondu, tedy pod svým limitem 5 %. Goldman uvedl, že je plně uspokojil.
Goldman Sachs logo appears in this illustration taken December 1, 2025. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
CompaniesJuly 1 (Reuters) - Goldman Sachs' (GS.N), opens new tab private credit fund said on Wednesday that investors sought to repurchase roughly 3.24% of its total shares in the second quarter, extending its streak of lower redemptions compared to most of the other players of the private credit industry.
The bank's fund, GS Credit, once again outperformed the sector that has been grappling with elevated redemption requests, driven by investor fears that AI could weaken the earnings of software companies and their ability to repay loans.
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Here are some details:
Goldman said second-quarter repurchase requests were below its 5% quarterly repurchase cap and were fulfilled in full.
Business development companies (BDCs) typically channel investor capital into private loans, making them a key part of the private credit industry.
"Across the largest non-traded BDC managers reporting second quarter activity to date, peer repurchase requests have generally ranged from approximately 10% to nearly 17% of shares outstanding," Goldman said in a letter to shareholders.
The Goldman fund generated roughly $275 million of gross inflows during the second quarter, it said.
Several analysts and technology companies have argued that concerns about AI's impact on the software sector are overblown, saying established companies have businesses, proprietary data and customer relationships that will be difficult to displace.
"We continue to believe that incumbency moats — mission-critical workflows, proprietary data, deep domain expertise, regulatory complexity, and customer trust — remain powerful sources of defensibility," Goldman said.
Reuters reported in April, citing a source, that a large share of the fund's investors came through Goldman's private wealth channels, where clients have been long-term investors in private credit and are better positioned to endure illiquidity.
Reporting by Manya Saini in Bengaluru; Editing by Shinjini Ganguli
Our Standards: The Thomson Reuters Trust Principles., opens new tab
One of the leading investment banks in the world, Goldman Sachs (GS +0.24%), recently stated its intention to raise its quarterly dividend by 11% to $5.00 per share, up from $4.50 per share.
The dividend raise comes after the bank passed the Federal Reserve's annual stress test with flying colors. Goldman Sachs, like many other large banks, has been in the cycle of raising its dividend in the third quarter, after the annual stress test results come out. This will mark the 15th consecutive year that Goldman Sachs has raised its dividend.
The stress test results, designed to measure a large bank's capital strength in the event of a major recession or economic shock, showed that Goldman Sachs has more than adequate capital to navigate a downturn. Its score came in above the median common equity tier 1 capital ratio among the 32 banks in the severely adverse test scenario the Fed presented.
Image source: Getty Images.
"Today's announcement reflects the continued strength of our earnings and capital position, and our commitment to delivering sustainable, long-term returns to shareholders," Goldman Sachs Chairman and CEO David Solomon said. "Our planned dividend increase reflects the strength of our franchise, our earnings power, and our confidence in our ability to support clients, invest for the long term, and deliver sustainable returns to shareholders."
Blowout year for M&A Goldman Sachs has been having an excellent year in 2026, with its stock price up about 16.5% year to date. Goldman Sachs has been fueled by a robust mergers and acquisitions (M&A) market. The first quarter was among the best ever, with some $1.2 trillion in deals, up 26% year over year.
Among the major investment banks, Goldman Sachs derives a higher percentage of its revenue from investment banking and M&A than its chief competitors, so when M&A is hot, Goldman Sachs stock will typically see bigger gains. When M&A cools, it would likely go the other way, leading to a larger drawdown for Goldman Sachs.
In the first quarter, Goldman Sachs saw revenue increase 14% year over year, driven by investment banking, which posted a 48% increase.
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Goldman Sachs reports second-quarter earnings on July 14, and they could be big. The M&A market has remained hot, highlighted by the massive IPO of Space Exploration Technologies, for which Goldman Sachs is the lead underwriter. According to a Marketwatch report, it could be one of the biggest underwriting payouts for an investment bank ever. Goldman Sachs could earn $100 million in fees from the SpaceX deal alone, according to a CNBC report.
Goldman Sachs and Morgan Stanley have been tapped as the lead underwriters for the upcoming OpenAI and Anthropic IPOs, which will also be massive when they hit over the next 12 months.
With the M&A market expected to have its best year since 2021 in 2026, Goldman Sachs stock looks like a great buy right now, trading at 18 times forward earnings.
JPMorgan Chase oznámila nový program odkupu akcií za 50 miliard USD a zvýšila čtvrtletní dividendu o 10 % na 1,65 USD na akcii. Goldman Sachs po zátěžovém testu Fedu také zvýšila dividendu o 11 % na 5 USD.
JPMorgan Chase on Wednesday unveiled a new $50 billion share repurchase program and raised its quarterly dividend after the Federal Reserve found the industry remained well capitalized under its annual stress test.
The biggest U.S. bank by assets said it will increase its quarterly dividend 10% to $1.65 per share, subject to board approval, and authorized the buyback program effective July 1.
"The Board's intended dividend increase is supported by our consistent investment in our business and strong financial performance," JPMorgan CEO Jamie Dimon said in a statement. "As always, we are prepared for a wide range of scenarios, including the hypothetical 2026 supervisory severely adverse scenario."
Goldman Sachs likewise increased its quarterly payouts, saying that its dividend will rise 11% to $5 per share, citing the firm's strong earnings and capital position.
Wells Fargo said it expects to raise its dividend by 11% to 50 cents per share, while Morgan Stanley boosted its payout 15% to $1.15 per share, while also reauthorizing a $20 billion buyback program.
Bank of America CEO Brian Moynihan said in a statement that the bank will make an announcement on the firm's dividend next month.
The announcements followed the release of the Federal Reserve's annual stress test, which found that all 32 large banks remained above their minimum capital requirements even after a hypothetical recession generating more than $708 billion in projected losses across the industry.
Unlike in previous years, however, the results will not affect banks' capital requirements. The Fed said earlier this year it would keep stress capital buffers unchanged through 2027 while it overhauls the testing methodology, meaning banks entered Wednesday with a clear understanding of their capital requirements.
While analysts had expected the exercise to have little immediate impact, in a sign of confidence, banks opted to proceed with payout increases, despite the regulatory limbo.
In a note ahead of the results, KBW described this year's stress test as "going through the motions," arguing that investors are more focused on the pending Basel III Endgame proposal expected later this year than on the Fed's annual exercise.
This story is developing. Please check back for updates.
Goldman Sachs letos zatím poradil na více než 1 bilionu USD v oznámených transakcích fúzí a akvizic, což je rekordní tempo. Silnější aktivita už zvedla příjmy z investičního bankovnictví o 48 % meziročně v 1. čtvrtletí 2026.
Key Takeaways Goldman has advised on a record more than $1 trillion worth of M&A deals so far in 2026.Many announced deals are likely to close in 2H 2026, supporting Goldman's advisory fee growth.Goldman's IB fees rose 48% year over year in Q1'26, driven by stronger advisory activity. The Goldman Sachs Group Inc.’s (GS - Free Report) investment banking (IB) business is regaining momentum as global dealmaking activity continues to recover.
According to Dealogic data, Goldman has advised more than $1-trillion worth of announced mergers and acquisitions (M&A) so far in 2026, marking a record pace for any investment bank within a half-year period. This represents a 71% increase from the comparable period in 2025, underscoring the sharp rebound in corporate transaction activity after several years of subdued dealmaking.
Global M&A activity reached $2.73 trillion so far this year, up 38% year over year, with Goldman advising on deals representing more than 40% of the total announced transaction value. JPMorgan (JPM - Free Report) and Morgan Stanley (MS - Free Report) ranked second and third, respectively JPMorgan advised on $687.5 billion of transactions, whereas Morgan Stanley followed with $575.9 billion of deals.
Global M&A Advisor Ranking
Image Source: Dealogic
Last month, at the Bernstein Strategic Decisions Conference, Goldman indicated that it expects global M&A volume in 2026 to exceed the 2021 record and reach $3.8 trillion. The optimistic outlook reflects improving corporate confidence, easing financing conditions and renewed boardroom appetite for strategic growth. A broader return of private equity activity could provide an additional boost, as sponsors look to deploy capital, pursue portfolio exits and monetize assets after a slower transaction environment.
Stronger Fee Pipeline for GoldmanGS’s large M&A advisory pipeline is particularly important because investment banks typically earn advisory fees when transactions close. While fee rates vary based on deal size, complexity and client relationships, large-scale transactions can generate significant advisory revenues. Therefore, the firm’s more than $1 trillion in announced advised M&A volume provides a visible pipeline of potential fee income over the coming quarters. This commanding lead is translating directly into higher advisory revenues.
The timing of fee realization is important. Announced deal volume does not translate immediately to revenues, as advisory fees are generally recognized upon deal completion. However, with many of Goldman’s advised transactions expected to close during the second half of 2026, the current pipeline offers meaningful visibility into future investment banking revenues. This could help sustain advisory fee growth even if the pace of new deal announcements moderates later in the year.
The recovery is already visible in Goldman’s recent results. In the first quarter of 2026, advisory revenues rose 89% year over year on higher completed M&A volumes, supporting investment banking fee growth of 48%. If the current announced-deal pipeline converts into completed transactions, advisory revenues could remain a meaningful growth driver through the remainder of 2026, supporting profitability and top-line growth.
Goldman’s Price Performance & Zacks RankGS shares have gained 71.7% in a year compared with the industry growth of 32.7%.
Price Performance
Image Source: Zacks Investment Research
Goldman currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Goldman Sachs čeká, že tržby z obchodování s akciemi zůstanou ve 2. čtvrtletí nad 5 miliardami USD po rekordním 1. čtvrtletí. Podporuje to volatilita trhu a silná aktivita institucionálních klientů.
Key Takeaways Goldman's equities trading revenues are projected to stay above $5B in Q2'26 after a record Q1.GS is benefiting from market volatility, institutional activity and stronger capital market trends.Goldman expects trading momentum, improving M&A pipeline and capital markets to support Q2 results. The Goldman Sachs Group, Inc. (GS - Free Report) appears well-positioned to deliver another solid quarter, with its equities trading business continuing to benefit from elevated market volatility and strong institutional client activity. According to a Seeking Alpha report published on MSN, following the strong first quarter, current trends indicate that equities trading revenues will likely remain above the $5-billion mark in the second quarter of 2026, reinforcing the strength of the company’s core Global Banking & Markets business.
Goldman entered 2026 with significant strength in its Global Banking & Markets segment. In the first quarter, equities trading revenues jumped 27% year over year to a record $5.33 billion. The rise was driven by heightened market volatility, which accelerated client demand for hedging strategies, portfolio repositioning, prime brokerage services and equities financing. Unlike more cyclical businesses, trading operations benefit directly from increased market activity, allowing Goldman to capitalize on higher client volumes across institutional segments.
The exceptional performance in equities trading was the primary contributor to the 19% year-over-year increase in Global Banking & Markets revenues, which reached $12.74 billion in the first quarter. Importantly, market conditions that supported this performance have largely persisted into the second quarter. Institutional investors have been active amid macroeconomic uncertainty, while AI-related investment themes continue to generate strong trading volumes, particularly across Asian markets, where hedge fund participation has been elevated.
A second consecutive quarter with equities trading revenues above $5 billion would be notable, given the business's operating leverage. Increased client activity typically drives revenue growth without a corresponding rise in expenses, supporting margin expansion and earnings growth.
Overall, Goldman is benefiting from multiple growth drivers, including sustained trading momentum, improving capital market activity and a strengthening M&A pipeline. These trends are expected to support revenue growth, enhance profitability and reinforce the firm's earnings outlook, positioning second-quarter 2026 to be another strong quarter for the company.
Major Banks See Rebound in IB & Markets ActivitiesSimilar to Goldman, JPMorgan (JPM - Free Report) and Wells Fargo (WFC - Free Report) expect their investment banking (IB) and trading businesses to perform well in the second quarter of 2026, driven by improving deal pipelines and stronger capital market activity.
JPMorgan indicated that second-quarter IB fees could rise 10% or more year over year. JPMorgan noted that its markets business is also on track to grow 11% in the second quarter and could perform "a little better" than that forecast.
Wells Fargo’s IB and trading revenues are projected to increase year over year in the mid-teen percentage range in the second quarter of 2026. Wells Fargo expects wealth management revenues to grow year over year in the low-double-digit percentage range.
Goldman’s Price Performance & Zacks RankGS shares have surged 63.4% in the past year compared with the industry’s growth of 29.2%.
Image Source: Zacks Investment Research
Goldman currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
