GSCE — what changed in the latest 10-Q
A section-by-section comparison of GSCE's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-11-02 vs the prior 10-Q · 2026-08-03
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +38 | −40 | ~146 | 518 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 0 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Risk factors
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-11-02
During the third quarter of 2026, the operating environment was generally characterized by resilient economic activity (particularly in the U.S.), ongoing geopolitical concerns (including the conflict in the Middle East), a focus on investments related to artificial intelligence (AI) and uncertainty…
Non-Interest Revenues. Investment banking revenues in the consolidated statements of earnings were $3.23 billion for the third quarter of 2026, 22% higher than the third quarter of 2025, primarily due to higher revenues in advisory, reflecting an increase in completed mergers and acquisitions volume…
Market making revenues in the consolidated statements of earnings were $5.66 billion for the third quarter of 2026, 46% higher than the third quarter of 2025, reflecting significantly higher revenues from financing activities, partially offset by lower revenues from intermediation activities. The in…
Net Interest Income. Net interest income in the consolidated statements of earnings was $3.77 billion for the third quarter of 2026, 2% lower than the third quarter of 2025, reflecting an increase in interest expense, partially offset by an increase in interest income. The increase in interest expen…
Other principal transactions revenues in the consolidated statements of earnings were $1.71 billion for the first nine months of 2026, 5% lower than the first nine months of 2025, primarily reflecting net markdowns related to the Apple Card loan portfolio, which was transferred to held for sale in t…
Text removed vs the prior filing · source: 10-Q · 2026-08-03
During the second quarter of 2026, the operating environment was generally characterized by resilient economic activity, particularly in the U.S., geopolitical concerns, a focus on investments related to artificial intelligence (AI) and uncertainty in the outlook for inflation and international trad…
Non-Interest Revenues. Investment banking revenues in the consolidated statements of earnings were $3.40 billion for the second quarter of 2026, 55% higher than the second quarter of 2025, primarily due to significantly higher revenues in equity underwriting, primarily reflecting significantly highe…
Market making revenues in the consolidated statements of earnings were $7.64 billion for the second quarter of 2026, 61% higher than the second quarter of 2025, reflecting significantly higher revenues from both intermediation and financing activities. The increase from intermediation activities ref…
Net Interest Income. Net interest income in the consolidated statements of earnings was $3.95 billion for the second quarter of 2026, 27% higher than the second quarter of 2025, reflecting an increase in interest income, partially offset by an increase in interest expense. The increase in interest i…
Other principal transactions revenues in the consolidated statements of earnings were $1.31 billion for the first half of 2026, 24% higher than the first half of 2025, primarily reflecting significantly higher net gains from direct investments related to our Global Banking & Markets activities and s…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice