Goldman Sachs (GS) earnings 1Q 2026

Goldman Sachs is scheduled to report first-quarter earnings before the opening bell Monday.

Here’s what Wall Street expects:

• Earnings: $16.49 per share, according to LSEG
• Revenue: $16.97 billion, according to LSEG
• Trading revenue: Fixed income of $4.92 billion, equities of $4.91 billion, per StreetAccount
• Investing banking fees: $2.5 billion, per StreetAccount

Goldman Sachs is set up to benefit from several trends during the first quarter.

Trading desks across Wall Street have been busy at the start of the year as institutional investors set new positions against the churn of AI-led disruption across sectors.

At the same time, the investment banking rebound is expected to continue, with revenue for the industry set to climb by 10% in the quarter, per Dealogic.

For Goldman Sachs, which gets most of its revenue from its trading and investment banking franchise, the main question analysts will have is about the impact of the Iran war that started on Feb. 28.

Disruptive events that impact the price of commodities — like the Iran conflict has — can sometimes force corporate clients to the sidelines, meaning a delay in mergers activity might have started. At the same time, the churn can lead to greater trading revenues thanks to moves in interest rates, bond prices and currencies.

Shares of the bank have climbed about 3% this year.

This story is developing. Please check back for updates.