GS · News · 20261021N

Trading Revenue

GOLDMAN SACHS GROUP INC · 2026-10-21 · Importance 36 · Surprise 40

The five largest investment banks generated approximately $67 billion of equities revenue through September 30, exceeding their full-year 2025 total by $7 billion. Goldman Sachs, JPMorgan Chase, and Morgan Stanley together generated $52 billion of stock-trading revenue, representing nearly 80% of the five-bank total. The concentration indicates Goldman is among the leading beneficiaries of AI-related equities trading and increased hedge-fund financing activity.

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