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GS · Q2 2026

GOLDMAN SACHS GROUP INC

Reported 2026-07-14
BEAT
31EarnIQ signal
↗

Confidence rising

Moderate quarter-over-quarter shift

Exceptional revenue growth across Global Banking & Markets drives robust EPS of $20.98 and higher shareholder returns.

  • ✓Guidance was none, with low specificity.
  • ✓Management tone registered as confident (85/100).
  • ✓EarnIQ detected 0 potential management deflections.
Headline–confidence gap

Headline confirmed

Management confidence reinforces the reported beat.

EPS: reported vs expected+40.7%$20.98 vs $14.91
Revenue: reported vs expected—— vs —
Guidance specificityLowChange not comparable
Market expectations supplied by Finnhub · Reported vs consensus estimate

Goldman Sachs Reports Second Quarter Earnings Per Common Share of $20.98 and Increases the Quarterly Dividend to $5.00 Per Common Share in the Third Quarter

Premium intelligence

The evidence behind the signal

Full report
Management language

Why confidence moved

“Goldman Sachs Reports Second Quarter Earnings Per Common Share of $20.98 and Increases the Quarterly Dividend to $5.00 Per Common Share in the Third Quarter”
“Net revenues were $20.34 billion for the second quarter of 2026, 39% higher than the second quarter of 2025 and 18% higher than the first quarter of 2026.”
“During the quarter, the firm returned $5.36 billion of capital to common shareholders, including $4.00 billion of common share repurchases”
Guidance specificity
30/100

Low specificity

No explicit quantitative revenue or EPS guidance ranges were provided for the upcoming quarters.

Pressure point
!

Potential volatility in securities markets

0 potential deflections detected in management communication.

Narrative break

What changed

No material narrative break was detected this quarter.

Q&A evidence

Management responses

No material Q&A deflections were detected.

Key positives
  • Global Banking & Markets net revenues reached $15.52 billion, 53% higher than the second quarter of 2025.
  • Annualized ROE reached 23.5% for the second quarter of 2026, demonstrating strong profitability.
  • Capital return to shareholders increased with the quarterly dividend raised to $5.00 per common share alongside $4.00 billion in share repurchases.
Key risks
  • Potential volatility in securities markets and general economic conditions impacting Investment banking fees and underwriting volumes.
  • Potential for new or increased tariffs and changes in international trade policies affecting global financial transactions.
  • Continuation or worsening of geopolitical conflicts such as the conflict in the Middle East impacting market sentiment.
Topic velocity

Language versus prior quarter

M&ANew
CostNew
ChinaNew
MarginNew
RecordNew
iPhoneNew
Signal composition

What drove the EarnIQ score

Tone+20
Eps Beat+0
Guidance+3
New Signal+0
Miss Penalty+0
Qoq Improvement+8
Deflection Penalty+0