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Goldman Sachs Posts Strong Q1, Beats Estimates with $4.74 Billion Net Earnings
By Ishika Dangayach - Apr 14, 2025, 10:08 AM ET
Last Updated - Apr 14, 2025, 10:28 AM EDT
Kicking off 2025 with momentum, Goldman Sachs beat Wall Street forecasts with $15.06 billion in Q1 net revenue, powered by record-breaking gains in its Global Banking & Markets arm amid a shifting economic landscape.
The Goldman Sachs Group, Inc. (NYSE: GS) on Monday reported net revenues of $15.06 billion and net earnings of $4.74 billion for the first quarter ended March 31, 2025.
The company, based in New York, said diluted earnings per common share (EPS) was $14.12 for the first quarter of 2025 compared with $11.58 for the first quarter of 2024.
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The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $12.71 per share.
Annualized return on average common shareholders’ equity (ROE) was 16.9% and annualized return on average tangible common shareholders’ equity (ROTE) was 18.0% for the first quarter of 2025.
“Our strong results this quarter have demonstrated that in times of great uncertainty, clients turn to Goldman Sachs for execution and insight. While we are entering the second quarter with a markedly different operating environment than earlier this year, we remain confident in our ability to continue to support our clients,” said David Solomon, Chairman and Chief Executive Officer in the statement .
Global Banking & Markets generated net revenues of $10.71 billion, driven by record net revenues in Equities and strong performances in Fixed Income, Currency and Commodities and Debt underwriting.
The firm ranked #1 in worldwide announced and completed mergers and acquisitions, equity and equity-related offerings and common stock offerings, and ranked #2 in high-yield debt offerings and leveraged loan offerings, for the year-to-date.
Asset & Wealth Management generated net revenues of $3.68 billion. Assets under supervision increased $36 billion during the quarter to a record $3.17 trillion.
Net revenues for the first quarter of 2025 were 6% higher than the first quarter of 2024 and 9% higher than the fourth quarter of 2024 . The increase compared with the first quarter of 2024 reflected higher net revenues in Global Banking & Markets.
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