Goldman Sachs Q1 2025 Earnings Beat Wall Street Estimates, Equities Division Reports 27% Jump In Revenues
Synopsis
Total revenue rose 6% year over year to $15.06 billion and surpassed an analyst estimate of $14.71 billion, led by higher net revenues in Global Banking & Markets but partially offset by slightly lower net revenues in Asset & Wealth Management.
Shares of Goldman Sachs Group Inc. (GS) rallied over 2% in Monday’s pre-market session after the bank’s first-quarter earnings topped Wall Street estimates.
Total revenue rose 6% year-over-year (YoY) to $15.06 billion, surpassing an analyst estimate of $14.71 billion. The increase was led by higher net revenues in Global Banking & Markets, partially offset by slightly lower net revenues in Asset & Wealth Management.
Earnings per share (EPS) stood at $14.12 compared to a Street estimate of $12.28. The lender reported a 17% jump in net income to $4.58 billion during the quarter.
CEO David Solomon said that while the bank is entering the second quarter with a markedly different operating environment than earlier this year, it remains confident in its ability to continue supporting our clients.
Net revenues in the Global Banking & Markets division rose 10% to $10.71 billion for the first quarter of 2025.
However, Investment Banking fees fell 8% to $1.91 billion. This was due to significantly lower net revenues in Advisory compared with a strong prior year period, partially offset by higher net revenues in Debt Underwriting, primarily driven by asset-backed and investment-grade activity.
Notably, net revenues in Equities jumped 27% to $4.19 billion.
Net revenues in Asset & Wealth Management division fell 3% to $3.68 billion for the first quarter due to significantly lower net revenues in Equity investments and Debt investments.
Goldman Sachs reported a decline in provision for credit losses to $287 million in Q1, compared with $318 million in the same period last year.
Last week, the bank’s Board of Directors declared a dividend of $3 per common share to be paid on June 27 to common shareholders of record on May 30.
Goldman shares have lost over 14% in 2025 but have gained over 23% in the past 12 months.
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