**Goldman Sachs Reports Second Quarter 2025 Results**
The Goldman Sachs Group, Inc. (NYSE: GS) reported net earnings applicable to common shareholders of $3.47 billion for the three months ended June 30, 2025, resulting in diluted earnings per share (EPS) of $10.91. This compares to net earnings applicable to common shareholders of $2.89 billion and diluted EPS of $8.62 for the same period in 2024. Total net revenues for the quarter were $14.58 billion, a 15% increase from the $12.73 billion reported in the second quarter of the previous year. The firm's provision for credit losses was $384 million, up from $282 million in the prior year.
For the six months ended June 30, 2025, Goldman Sachs reported net earnings applicable to common shareholders of $8.06 billion, or $25.07 diluted EPS, compared to $6.82 billion and $20.21 diluted EPS for the same period in 2024. Total net revenues for the first half of 2025 were $29.65 billion, a 10% increase from the $26.94 billion reported in the first half of 2024. The firm's provision for credit losses was $671 million, up from $600 million in the prior year.
The increase in net revenues for the quarter was primarily driven by a significant rise in Global Banking & Markets, particularly in Equities and Investment Banking, and higher net interest income. Investment Banking revenues increased to $2.19 billion, up from $1.73 billion in the prior year, while Investment Management revenues increased to $2.84 billion, up from $2.53 billion in the prior year. Market Making revenues also saw an increase, reaching $4.73 billion compared to $4.34 billion in the prior year. However, Other Principal Transactions revenues decreased to $514 million, down from $1.09 billion in the prior year.
Key operational metrics included an increase in total assets to $1.79 trillion as of June 30, 2025, compared to $1.68 trillion as of December 31, 2024. The firm's Common Equity Tier 1 (CET1) capital ratio was 14.5% under the Standardized Capital Rules and 15.3% under the Advanced Capital Rules. The firm also repurchased 5.3 million shares of its common stock at an average cost of $564.57 per share during the quarter, for a total cost of $3.00 billion. The firm's headcount was 45,900 as of June 30, 2025, compared to 44,300 as of June 30, 2024.
About GOLDMAN SACHS GROUP INC
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