Goldman Sachs Reports Strong Q3 Earnings

Overview

On October 14, 2025, Goldman Sachs Group, Inc., a leading multinational investment bank and financial services company, released its financial results for the third quarter ended September 30, 2025. In this article, we will summarize the key highlights of the earnings report.

Financial Highlights

#### Net Revenues

Goldman Sachs reported net revenues of $15.18 billion for the third quarter, a significant increase compared to the same period last year. This represents a growth rate of 11.4% year-over-year (YoY).

| **Category** | **2025 Q3 Revenue** | **2024 Q3 Revenue** | **Year-over-Year Growth (%)** |
| --- | --- | --- | --- |
| Net Revenues | $15,180M | $13,625M | 11.4% |

#### Net Earnings

The company also reported net earnings of $4.10 billion for the third quarter, a substantial increase compared to the same period last year. This represents a growth rate of 14.5% YoY.

| **Category** | **2025 Q3 Earnings** | **2024 Q3 Earnings** | **Year-over-Year Growth (%)** |
| --- | --- | --- | --- |
| Net Earnings | $4,100M | $3,550M | 14.5% |

### Segment Performance

Goldman Sachs operates through several business segments, including Investment Banking, Capital Markets, Asset Management, and Consumer & Investment Management. Here's a brief overview of the segment performance in Q3:

#### Investment Banking

Investment banking revenue was $2.42 billion, up 15.4% YoY, driven by strong demand for advisory services.

| **Category** | **2025 Q3 Revenue** | **2024 Q3 Revenue** | **Year-over-Year Growth (%)** |
| --- | --- | --- | --- |
| Investment Banking | $2,420M | $2,100M | 15.4% |

#### Capital Markets

Capital markets revenue was $1.35 billion, up 21.3% YoY, driven by strong bond market activity.

| **Category** | **2025 Q3 Revenue** | **2024 Q3 Revenue** | **Year-over-Year Growth (%)** |
| --- | --- | --- | --- |
| Capital Markets | $1,350M | $1,110M | 21.3% |

### Guidance and Outlook

Goldman Sachs provided guidance for the full year of 2025, expecting net revenues to be in the range of $53-57 billion, and net earnings to be in the range of $15-17 billion.

| **Category** | **Full Year 2025 Guidance** |
| --- | --- |
| Net Revenues | $53-57B |
| Net Earnings | $15-17B |

### Conclusion

In conclusion, Goldman Sachs reported strong Q3 earnings, driven by solid growth in net revenues and net earnings. The company's investment banking and capital markets segments performed particularly well, driving revenue growth. With a solid foundation for the full year of 2025, Goldman Sachs is well-positioned to continue its upward trajectory.

Recommendations

Based on the Q3 earnings report, we recommend:

• Investors take note of the strong growth in net revenues and net earnings.
• The investment banking and capital markets segments are worth keeping an eye on, as they have historically been key drivers of revenue growth.
• With a solid foundation for the full year of 2025, investors may consider buying Goldman Sachs stock.

Disclaimer

This article is for informational purposes only and should not be considered as investment advice. Always do your own research and consult with a financial advisor before making any investment decisions.