UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-14965 The Goldman Sachs Group, Inc. (Exact name of registrant as specified in its charter) Delaware 13-4019460 (State or other jurisdictio ...

Core Viewpoint - Financial markets are expected to stabilize and see an increase in mergers and public listings despite current uncertainties [1][9]. Group 1: Market Activity and Expectations - The CEO of Goldman Sachs, David Solomon, believes that financial markets will eventually settle down, leading to an anticipated rise in mergers and initial public offerings (IPOs) [1][6]. - Solomon indicated that the first quarter of 2025 experienced higher capital market activity compared to the same quarter last year, suggesting potential for increased deal-making later in the year if uncertainties do not persist [8]. Group 2: Impact of Policy Uncertainty - Solomon expressed concerns that the current level of policy uncertainty, particularly related to tariffs under President Trump's administration, is negatively affecting economic growth and investment [2][3]. - He noted that as uncertainty grows, capital activity may decline, with corporations potentially increasing layoffs and tightening budgets in anticipation of economic downturns [2][3]. Group 3: Corporate Sentiment - Conversations with CEOs and clients reveal a trend of holding back on investments due to heightened uncertainty, indicating a cautious approach among corporations [3].

Summary:⚈ Goldman Sachs insider made first direct stock buy in 17 years.⚈ $2 million purchase signals strong confidence amid market uncertainty.⚈ GS stock rallied 7.8% in a week, narrowing YTD losses to 4.6%.Corporate insider sales are not a relatively common feature, thanks to many high-ranking employees receiving compensation primarily in the form of equity. However, direct purchases tend to be rarer and, arguably, more noteworthy.John Hess, a Goldman Sachs (NYSE: GS) Director and CEO of Hess Corp (NYSE: ...

Goldman Sachs shareholders voted to approve pay packages, including hefty retention bonuses, for top executives CEO David Solomon and president John Waldron.They also voted in favor of other management proposals including the election of the firm’s board of directors, according to a preliminary voting count announced during a virtual shareholder meeting in Dallas.Proxy adviser Glass Lewis had earlier recommended investors cast vote against the compensation plans, citing the bank’s “continued inability to al ...

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 22, 2025.A key force at the center of the stock market's massive two-day rally is the frantic behavior of short sellers covering their losses.Hedge fund short sellers recently added more bearish wagers in both single stocks and securities tied to macro developments after the whipsaw early April triggered by President Donald Trump's tariff rollout and abrupt 90-day pause, according to Goldman Sachs' prime brokerage ...

The Goldman Sachs Group, Inc. (GS) released its first-quarter 2025 results on April 14, 2025. Since then, its shares have risen 5.2%.The company’s quarterly top and bottom-line numbers outpaced the Zacks Consensus Estimate. The solid improvement in trading revenues majorly supported Goldman’s performance, while the investment banking (IB) business was subdued.Following decent quarterly results, is the Goldman stock worth adding to your portfolio? Before checking that out, let us discuss the company’s quarte ...

Core Insights - The earnings season provides insights into the financial sector, revealing capital flow trends and macroeconomic outlooks [1] Group 1: Goldman Sachs Performance - Goldman Sachs reported cautious optimism, mirroring themes from BlackRock, with short-term optimism but long-term caution regarding interest rates and trade tariffs [2][9] - The stock has outperformed the S&P 500 by 25% over the past year, indicating investor hope for a favorable economic turn [6] - Goldman Sachs' equities business saw double-digit growth rates, suggesting client confidence in near-term performance despite tariff concerns [7] Group 2: Market Sentiment and Forecast - Analysts have a 12-month stock price forecast for Goldman Sachs at $593.40, indicating an 18.76% upside potential from the current price of $499.65 [8] - Wells Fargo reiterated an Overweight rating on Goldman Sachs, with a high forecast of $720 per share, suggesting a potential rally of 42% [8] - The Federal Reserve may consider lowering rates to stimulate the economy, positioning Goldman Sachs at the forefront of economic activity [9] Group 3: Business Segments - Goldman Sachs' mergers and acquisitions (M&A) department and IPO business were sluggish, reflecting clients' hesitance amid policy uncertainty [10] - Despite some dormant business lines, there is increased interest in future deals, indicating potential for a resurgence once clarity returns [10][11]

Group 1 - The company specializes in providing daily-rebalanced ETP products that include leveraged, unleveraged, inverse, and inverse leveraged factors [3] - The research focuses on macroeconomic assessments, strategic sector viability, and market data trends to inform investment decisions [1] - There is a significant interest in Asian markets, particularly India and China, with in-depth analyses published on economic trends and business developments in the region [1] Group 2 - The company does not hold any stock or derivative positions in the companies mentioned, ensuring an unbiased perspective in its analyses [2] - The assets under management (AUM) are primarily influenced by investor interest rather than market movements [3] - The company emphasizes that past performance does not guarantee future results, highlighting the importance of careful consideration before investing [4]

https://www.wsj.com/finance/banking/trump-tariffs-bank-revenue-34fc5f0d This copy is for your personal, non-commercial use only. Distribution and use of this material are governed byour Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contactDow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. ...

Core Insights - Goldman Sachs Group reported strong Q1 2025 earnings, surpassing expectations in both EPS and revenue [1] - The firm demonstrated robust performance in its Global Banking & Markets division despite economic uncertainties [2] Financial Performance - Q1 2025 GAAP revenue reached $15.06 billion, exceeding the $14.77 billion estimate, and showing a 6.0% increase from Q1 2024's $14.21 billion [3] - Diluted EPS (GAAP) was $14.12, significantly higher than the anticipated $12.33, marking a 21.9% increase from $11.58 in Q1 2024 [3] - Net earnings (GAAP) for Q1 2025 were $4.74 billion, up 14.7% from $4.13 billion in Q1 2024 [3] - Operating expenses (GAAP) totaled $9.13 billion, a 5.4% increase from $8.66 billion in Q1 2024 [3] - Book value per share (GAAP) increased to $344.20, reflecting a 7.2% rise from $321.10 in Q1 2024 [3] Business Segments Overview - Goldman Sachs operates through three main segments: Global Banking & Markets, Asset & Wealth Management, and Platform Solutions, each with distinct revenue drivers [4] - The Global Banking & Markets segment generated $10.71 billion in GAAP net revenues for Q1 2025, a 10% increase from Q1 2024, driven by strong equities and fixed-income performance [5] - Asset & Wealth Management experienced a 3% revenue decline in Q1 2025 compared to Q1 2024, attributed to lower gains in equity and debt investments despite higher management fees [5] - Platform Solutions reported GAAP net revenues of $676 million in Q1 2025, a slight decrease from Q1 2024, primarily due to lower transaction banking revenues [6] Strategic Focus and Future Outlook - The company aims to enhance technological capabilities, particularly through AI, to improve operational efficiency and client experiences [4][8] - Goldman Sachs is committed to sustainable financing, with a goal to deploy $750 billion in this area by 2030 [9] - Management is optimistic about the firm's future role in global banking and market-making while addressing regulatory challenges [8][9]