Goldman Sachs Equities Revenue Surges 72% to Record $7.42 Billion in Q2
Updated
Updated · CNBC · Aug 1
Goldman Sachs Equities Revenue Surges 72% to Record $7.42 Billion in Q2
3 articles · Updated · CNBC · Aug 1
Summary
$7.42 billion in second-quarter equities revenue topped estimates and marked Goldman Sachs' biggest growth engine, outpacing the bank's headline dealmaking business.
Years of investment and a strategy shift inside Global Banking & Markets helped drive the jump, alongside heavy client activity during volatile markets and stronger cross-selling between banking, wealth and equities clients.
Global Banking & Markets generated $15.5 billion—more than 75% of Goldman's total revenue—with FICC up 32% to $4.6 billion and investment banking up 55% to $3.4 billion.
Goldman said AI-driven dispersion, elevated single-name volatility and expansion in Asia boosted trading demand, even as clients trimmed crowded semiconductor positions from 24% of net exposure to 18%.
The quarter underscores how trading, not just blockbuster mandates such as Alphabet's $85 billion raise and SpaceX's IPO and $25 billion bond sale, is powering Wall Street banks' 2026 results.