NEW YORK, Oct. 14 (Xinhua) -- Goldman Sachs on Tuesday reported net revenues of 15.18 billion U.S. dollars and net earnings of 4.1 billion dollars for the third quarter that ended Sept. 30, 2025, beating previous estimates.
For the first nine months of the year, net revenues reached 44.83 billion dollars while net earnings totaled 12.56 billion dollars, underscoring a year of steady profitability amid a volatile economic environment.
The firm's annualized return on average common shareholders' equity was 14.2 percent for Q3 and 14.6 percent year to date. Book value per common share rose 1.2 percent in the quarter and 5.1 percent year to date, reaching 353.79 dollars.
Goldman Sachs' global banking and markets division generated 10.12 billion dollars in net revenues, up 18 percent from a year earlier, supported by strong client activity and improved deal flow across advisory and financing. The results were essentially unchanged from Q2.
Meanwhile, asset and wealth management delivered 4.4 billion dollars in net revenues for Q3, rising 17 percent year over year and 16 percent higher than Q2, driven by higher management and incentive fees, continued inflows, and favorable market conditions.
"This quarter's results reflect the strength of our client franchise and focus on executing our strategic priorities in an improved market environment ... Longer term, we are prioritizing the need to operate more efficiently to seamlessly deliver the firm to our clients helped by new AI technologies," said David Solomon, Chairman and CEO of Goldman Sachs.
Despite the strong quarterly performance, Goldman Sachs shares slipped about 2 percent Tuesday morning, as investors digested the firm's recent rally and cautious commentary from peers on trading conditions. The stock remains up 37 percent year to date as of Monday's close, outperforming most large-bank peers.
