Goldman Sachs just reminded everyone why Wall Street’s biggest trading houses tend to love chaos. The bank reported its highest quarterly profit in more than three years, powered by a record-breaking equities trading desk and a dealmaking engine that’s finally humming again.
Net profit climbed 15% to $4.74 billion, or $14.12 per share, comfortably beating analyst estimates.
Record equities revenue and a dealmaking revival
The star of the earnings report was equities trading, which generated roughly $4.2 billion in revenue. That’s a record for the division and a 27% jump compared to the same quarter last year.
The surge wasn’t accidental. Tariff uncertainty and broader macro turbulence have kept institutional clients active, driving the kind of heavy trading volumes that Goldman’s desk thrives on.
