Filing Flows › Goldman Sachs Group (GS) › Q2 2026
Goldman Sachs Group (GS) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 3, 2026
Goldman Sachs Group (GS) reported revenue of $20.3B for the second quarter 2026 (Q2 2026), +39% from a year earlier and +18% from the quarter before. Operating margin was 42.1%, net earnings $6.6B (32.6% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.3B | +18% | +39% |
| Operating profit | $8.6B | +32% | +73% |
| Net earnings | $6.6B | +18% | +78% |
| Operating cash flow | $6.1B | — | +8% |
| Free cash flow | $5.6B | — | +8% |
What changed
Revenue was $20.3B in Q2 2026, up 39% year over year and up 18% from the previous quarter. Global Banking & Markets was the largest line at 76% of revenue. Global Banking & Markets added $5.4B year over year (up 53%), 94% of the total change. Platform Solutions declined 64%.
Operating profit was $8.6B, a 42.1% margin (up 8.1 points year over year). Of the extra revenue versus a year earlier, 63% reached operating profit, above the 34% margin then. Total costs grew 22% against revenue growth of 39%. Net earnings were $6.6B, up 78% year over year. The effective tax rate was 22.6%.
Operating cash flow was $6.1B (up 8% year over year), 92% of net earnings. Non-cash charges added back $0.51B of depreciation and amortization and $0.44B of share-based compensation. Working capital and other items used $1.5B. Capital expenditures of $0.50B left free cash flow of $5.6B.
Questions
What was Goldman Sachs Group's revenue in the second quarter 2026?
Goldman Sachs Group (GS) reported revenue of $20.3B for the second quarter 2026 (Q2 2026), +39% from a year earlier and +18% from the quarter before.
Was Goldman Sachs Group profitable in the second quarter 2026?
Operating profit was $8.6B (42.1% of revenue) and net earnings $6.6B.