GOLDMAN SACHS GROUP INC Earnings Summary — Q2 2026

• Revenue reached a quarterly high of $20.34 billion, representing a significant 39.5% year-over-year increase.
• Net Interest Income surged 27.4% year-over-year to $3.95 billion, reflecting improved balance sheet scaling.
• The firm demonstrated strong operating leverage with operating income growing to $8.56 billion in Q2 2026.
• Transaction-based revenues performed strongly at $8.30 billion, up from $6.23 billion in the same quarter last year.
• Strategic pivot away from consumer banking is yielding margin improvements as the firm returns to its investment banking roots.
• Net income attributable to common shareholders rose to $6.40 billion, an 84% increase over Q2 2025.

Management focus remains on the 'One Goldman' collaborative model, aiming to increase durable recurring fees from AUM to offset transactional volatility. The firm continues to wind down non-core consumer banking portions to optimize the ROE profile toward medium-term targets.

Improving

The transition back to core institutional strengths and the exit from 'Marcus' ambitions have significantly boosted bottom-line performance and investor confidence.

The firm is positioned for continued growth in Global Banking & Markets, with outlook focused on capturing market share in M&A advisory and IPO underwriting as capital markets recover. Growth in Asset & Wealth Management is targeted to provide a more stable fee base.