Goldman Sachs Q3 FY25: where the revenue came from and where it went
The whole income statement of Goldman Sachs for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2025
- Reported
- Oct 31, 2025
Revenue$15.18B
+20% year over year
Operating profit$5.39B
36% margin
Net profit$4.10B
27% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 15.18 | 100% | +20% |
| Global banking & markets | 10.12 | 67% | +18% |
| Asset & wealth management | 4.40 | 29% | +17% |
| Platform solutions | 0.67 | 4% | +71% |
| Operating expenses | −9.79 | 64% | |
| Compensation | −4.68 | 31% | +0pp |
| Occupancy | −0.24 | 2% | +0pp |
| Professional services | −0.43 | 3% | +0pp |
| Technology | −0.55 | 3% | +0pp |
| Interest | −3.55 | 23% | +0pp |
| Credit provisions | −0.34 | 2% | +0pp |
| Operating profit | 5.39 | 36% margin | +4pp |
| Tax | −1.29 | ||
| Net profit | 4.10 | 27% margin | +3pp |
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