Goldman Sachs profits rise on stock trading, M&A surge

Bank's stock drops 3% as fixed income, currencies, and commodities revenue falls short

Apr. 13, 2026 at 11:52am by

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A highly detailed, black-and-white close-up image of the gears, levers, and mechanisms of a bank's trading floor equipment, conveying a sense of the complex, industrial nature of modern finance.An extreme close-up of the inner workings of a bank's trading floor machinery reflects the resilience of the financial sector despite broader economic uncertainties.San Francisco Today

Goldman Sachs' (GS) profits climbed in the first quarter, fueled by jumps in M&A dealmaking and record equity trading. However, the bank's stock dropped 3% in premarket trading as intermediation revenue for fixed income, currencies, and commodities fell short of expectations.

Why it matters

The earnings report from Goldman Sachs kicks off a busy week of results from major Wall Street banks, providing insight into the health of the financial sector and broader economy amid growing concerns over macroeconomic pressures.

The details

Goldman Sachs' strong performance in investment banking and equities trading offset weaker results in its fixed income, currencies, and commodities division. The bank's profits were boosted by a surge in mergers and acquisitions activity as well as record equity trading volumes.

  • Goldman Sachs reported its Q1 2026 earnings on April 13, 2026.

The players

Goldman Sachs

A leading global investment bank and financial services company.

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What they’re saying

“Goldman Sachs' profits climbed in the first quarter, fueled by jumps in M&A dealmaking and record equity trading.”

— David Hollerith, Yahoo Finance Reporter

What’s next

Investors will be closely watching the upcoming earnings reports from other major Wall Street banks, including JPMorgan Chase, Citigroup, Wells Fargo, Bank of America, and Morgan Stanley, to get a broader sense of the financial sector's performance in the first quarter.

The takeaway

Goldman Sachs' strong results in investment banking and equities trading highlight the resilience of certain parts of the financial industry, even as concerns mount over broader macroeconomic pressures. The upcoming earnings reports from other major banks will provide further insight into the state of the sector.