Goldman Sachs Delivers Strong Q1 Performance Amid Volatility
Goldman Sachs has announced a very strong first quarter 2026 performance, with net revenues reaching $17.2 billion, net earnings of $5.6 billion, and earnings per share of $17.55 – all three being the second highest in the history of the company.
The Chairman and Chief Executive Officer David Solomon highlighted that despite a degree of optimism at the beginning of 2026, which saw markets hit record highs and confidence build, the macro environment started to weigh on sentiment as the quarter progressed. Volatility increased amid concerns around AI-driven disruption in sectors like software, heightened uncertainty in parts of private credit, and conflict in the Middle East.
Against this backdrop, Goldman Sachs' performance underscores the importance of having a scaled, diversified, and global franchise that can support clients across a wide range of market conditions. The company's strong focus on risk management and ability to execute for clients allowed it to deliver record quarterly revenues in Global Banking & Markets.
In commodities, the firm acted as an intermediary for its clients amid significant moves in energy markets, including a record monthly increase for Brent Crude in March and price surges of 60% in European gas markets. The growth of Goldman Sachs' financing business has added further ballast to its performance, reinforcing its ability to perform consistently across cycles.
Investment banking at the company remains the number one M&A advisor globally, with clients continuing to turn to Goldman Sachs for advice and expertise regarding their most important strategic transactions amid a backdrop of accelerating technological change and industry disruption. Despite market conditions tempering execution for IPOs and sponsor activity broadly, the firm believes that activity levels will rebound once conditions stabilize.
In asset and wealth management, clients have chosen Goldman Sachs for the quality of its advice and longstanding investment track record. The company generated $62 billion in long-term fee-based inflows, including $22 billion in wealth management flows – a testament to the strength of its client relationships built on trust and long-term performance.
Goldman Sachs' Chairman David Solomon emphasized that the firm's deep expertise, long-term investment, and culture grounded in risk discipline differentiate it from other companies. He added that clients rely on Goldman Sachs particularly in periods of uncertainty, as they can count on the company being a trusted advisor and providing timely and differentiated insights.
Throughout the quarter, the company held large-scale calls and events reaching tens of thousands of clients across the firm, with elevated engagement seen in its digital channels. In particular, Marquee saw monthly average users up over 30% year-over-year in its Global Investment Research portal, which experienced its second highest single day of client activity in early March.
