Filing Flows › Goldman Sachs Group (GS) › Q2 2026 › vs Q1 2026
Goldman Sachs Group (GS) Q2 2026 vs Q1 2026 (quarter over quarter)
Goldman Sachs Group's revenue rose $3.1B (+18%) from $17.2B in Q1 2026 to $20.3B in Q2 2026. The biggest changes: Global Banking & Markets +$2.8B (+22%); Asset & Wealth Management +$519M (+13%); Platform Solutions −$190M (-46%). Operating margin 42.1% against 37.7% (+4.5 pts).
Goldman Sachs Group, Q2 2026: revenue $20.3B (+40% year over year), operating margin 42.1%, net earnings $6.6B, operating cash flow $6.1B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 42.1% | 37.7% | +4.5 pts |
| Net margin | 32.6% | 32.7% | -0.1 pts |
| Free cash flow margin | 27.5% | -188.3% | +215.8 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Global Banking & Markets | $15.5B | $12.7B | $2.8B | +22% |
| Asset & Wealth Management | $4.6B | $4.1B | $519M | +13% |
| Platform Solutions | $221M | $411M | −$190M | -46% |
| Revenue | $20.3B | $17.2B | $3.1B | +18% |
| Operating profit | $8.6B | $6.5B | $2.1B | +32% |
| Costs & expenses | $11.8B | $10.7B | $1.0B | +10% |
| Pre-tax earnings | $8.6B | $6.5B | $2.1B | +32% |
| Net earnings | $6.6B | $5.6B | $998M | +18% |
| Income tax | $1.9B | $856M | $1.1B | +126% |
| Depreciation & amortization | $509M | $495M | $14.0M | +3% |
| Share-based compensation | $439M | $2.5B | −$2.1B | -83% |
| Working capital & other | $1.5B | $40.5B | −$39.1B | -96% |
| Operating cash flow | $6.1B | −$31.9B | $38.0B | — |
| Free cash flow (OCF − capex) | $5.6B | −$32.4B | $38.0B | — |
| Capital expenditures | $502M | $565M | −$63.0M | -11% |
Questions
How much did Goldman Sachs Group's revenue grow quarter over quarter in Q2 2026?
Goldman Sachs Group's revenue rose $3.1B (+18%) from $17.2B in Q1 2026 to $20.3B in Q2 2026.
What drove Goldman Sachs Group's revenue change in Q2 2026?
Global Banking & Markets +$2.8B (+22%); Asset & Wealth Management +$519M (+13%); Platform Solutions −$190M (-46%).