Goldman Sachs (GS.US) Reports Q3 2025 Profit of $12.25 Per Share, Exceeding Estimates

Goldman Sachs (GS.US) announced diluted earnings per common share (EPS) of $12.25 for the third quarter ended September 30, 2025. This significantly surpasses the analyst EPS estimate of $11.11 for the period. The firm reported net revenues of $15.18 billion and net earnings of $4.10 billion for the quarter. This represents a 46% year-over-year increase in diluted EPS compared to $8.40 in the third quarter of 2024.

Strong Segment Performance

Net revenues for the third quarter of 2025 were $15.18 billion, a 20% increase compared to the third quarter of 2024 and 4% higher than the second quarter of 2025. This growth was primarily driven by higher net revenues across all business segments. Global Banking & Markets reported net revenues of $10.12 billion, an 18% increase year-over-year, largely due to significantly higher net revenues in Advisory and Debt underwriting.

Asset & Wealth Management net revenues climbed to $4.40 billion, a 17% increase from the prior year, reflecting higher Management and other fees, and significantly higher net revenues in Private banking and lending. Platform Solutions also saw a substantial increase, with net revenues of $670 million, up 71% compared to the third quarter of 2024. This was primarily due to the absence of net losses related to the General Motors credit card program and mark-downs in the seller financing loan portfolio present in the prior year.

Management Outlook

Chairman and Chief Executive Officer David Solomon stated that the quarter's results reflect the strength of the firm's client franchise and its focus on executing strategic priorities in an improved market environment. He highlighted the importance of strong risk management given quickly changing conditions and emphasized operating more efficiently to seamlessly deliver for clients, aided by new AI technologies. The firm remains focused on its long-term strategic direction.