Goldman Sachs 8-K

Summary

Q2 2026 results, with a higher quarterly dividend. Goldman Sachs reported record net revenues and diluted EPS; higher Global Banking & Markets revenue was the primary driver. The board raised the quarterly dividend to $5.00 per share for Q3 2026.

Key Figures

• First-half net revenues were $37.57B (+27% Y/Y), net earnings $12.26B (+45%), and diluted EPS $38.51 (+54%). Tax benefits from employee share-based awards reduced first-half taxes by ≈$965M, adding ≈$3.15 to diluted EPS and 1.7 percentage points to annualized ROE.
• Global Banking & Markets revenue rose 53% to $15.52B, including Equities revenue up 72% to $7.42B and investment banking fees up 55% to $3.40B. Asset & Wealth Management revenue increased 20% to $4.60B; Platform Solutions revenue fell 64% to $221M, primarily reflecting Apple Card portfolio markdowns.
• Capital returned to common shareholders was $5.36B, including $4.00B of repurchases (4.1M shares at an average $984.57) and $1.36B of dividends; period-end basic shares were down 4% Y/Y. The Q3 dividend increased from $4.50 to $5.00 per share, payable 9/29/2026 to holders of record 9/1/2026.

Guidance

Guidance to be given on the earnings call.

Investor Takeaways

• Watch the earnings call’s outlook for results and business conditions.
• Watch whether the larger investment banking fees backlog converts into completed transactions and revenue; the firm notes that transactions may change or not close.