Goldman Sachs Group Inc. (NYSE:GS) shares fell Monday after the firm reported its fiscal first-quarter 2026 results.
Net revenue rose 14% year over year to $17.23 billion, exceeding the $16.97 billion consensus estimate, driven by strength in Global Banking & Markets. Net interest income increased to $3.56 billion from $2.90 billion a year earlier.
Operating expenses climbed 14% to $10.43 billion, reflecting higher transaction-related costs and increased compensation and benefits.
Goldman Sachs CEO David Solomon said the firm delivered strong quarterly results despite rising market volatility, highlighting continued client demand for its execution and advisory capabilities. He added that the bank remains well-positioned but emphasized that disciplined risk management is critical amid ongoing geopolitical uncertainty.
Earnings and Capital
Provision for credit losses totaled $315 million, up from $287 million a year earlier. Earnings came in at $17.55 per share, rising from $14.12 and beating the $16.30 consensus estimate.
The firm’s efficiency ratio improved slightly to 60.5% from 60.6% a year ago. The standardized CET1 capital …