Filing Flows › Goldman Sachs Group (GS) › Q3 2026
Goldman Sachs Group (GS) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 2, 2026
Goldman Sachs Group (GS) reported revenue of $18.7B for the third quarter 2026 (Q3 2026), +23% from a year earlier and -8% from the quarter before. Operating margin was 37.5%, net earnings $5.3B (28.3% of revenue).
Goldman Sachs Group, Q3 2026: revenue $18.7B (+23% year over year), operating margin 37.5%, net earnings $5.3B, operating cash flow $4.2B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $18.7B | -8% | +23% |
| Operating profit | $7.0B | -18% | +30% |
| Net earnings | $5.3B | -20% | +29% |
| Operating cash flow | $4.2B | -32% | +56% |
| Free cash flow | $3.7B | -35% | +72% |
What changed
Revenue was $18.7B in Q3 2026, up 23% year over year and down 8% from the previous quarter. Global Banking & Markets was the largest line at 72% of revenue. Global Banking & Markets added $3.3B year over year (up 32%), 94% of the total change. Platform Solutions declined 72%.
Operating profit was $7.0B, a 37.5% margin (up 2.0 points year over year). Of the extra revenue versus Q3 2025, 46% reached operating profit, above the 36% margin then. Total costs grew 19% against revenue growth of 23%. Net earnings were $5.3B, up 29% year over year. The effective tax rate was 24.4%.
Operating cash flow was $4.2B (up 56% year over year), 79% of net earnings. Non-cash charges added back $0.54B of depreciation and amortization and $0.27B of share-based compensation. Working capital and other items used $1.9B. Capital expenditures of $0.53B left free cash flow of $3.7B.
Questions
What was Goldman Sachs Group's revenue in the third quarter 2026?
Goldman Sachs Group (GS) reported revenue of $18.7B for the third quarter 2026 (Q3 2026), +23% from a year earlier and -8% from the quarter before.
Was Goldman Sachs Group profitable in the third quarter 2026?
Operating profit was $7.0B (37.5% of revenue) and net earnings $5.3B.