GS.PC — what changed in the latest 10-Q
A section-by-section comparison of GS.PC'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 · 2026-08-03 vs the prior 10-Q · 2026-05-01
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +78 | −34 | ~106 | 520 |
| 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 · 2026-08-03
Six Months Ended June 2026 versus June 2025. We generated net earnings of $12.26 billion for the first half of 2026, compared with $8.46 billion for the first half of 2025. Diluted EPS was $38.51 for the first half of 2026, compared with $25.07 for the first half of 2025. Annualized ROE was 21.7% fo…
Net revenues were $37.57 billion for the first half of 2026, 27% higher than the first half of 2025, primarily reflecting significantly higher net revenues in Global Banking & Markets. The increase in net revenues in Global Banking & Markets primarily reflected significantly higher net revenues in E…
Provision for credit losses was $417 million for the first half of 2026, compared with $671 million for the first half of 2025. Provisions for the first half of 2026 reflected impairments and growth related to wholesale loans. Provisions for the first half of 2025 reflected net provisions related to…
Operating expenses were $22.10 billion for the first half of 2026, 20% higher than the first half of 2025, primarily reflecting significantly higher compensation and benefits expenses (reflecting improved operating performance) and transaction based expenses. Our efficiency ratio was 58.8% for the f…
During the first half of 2026, we returned a total of $11.74 billion of capital to common shareholders, including $9.00 billion of common stock repurchases and $2.74 billion of common stock dividends.
Text removed vs the prior filing · source: 10-Q · 2026-05-01
During the first quarter of 2026, global economic activity was generally impacted by geopolitical concerns, the outlook for inflation, a focus on investments in artificial intelligence (AI) and uncertainty in international trade policies (including tariffs). In the latter part of the quarter, the co…
•ROE, ROTE, net earnings to average total assets and return on average shareholders’ equity are annualized amounts.
Net revenues in the consolidated statements of earnings were $17.23 billion for the first quarter of 2026, 14% higher than the first quarter of 2025, reflecting significantly higher investment banking revenues, net interest income and other principal transactions revenues, and higher investment mana…
Non-Interest Revenues. Investment banking revenues in the consolidated statements of earnings were $2.84 billion for the first quarter of 2026, 48% higher than the first quarter of 2025, primarily due to significantly higher revenues in both advisory, reflecting a significant increase in completed m…
Other principal transactions revenues in the consolidated statements of earnings were $862 million for the first quarter of 2026, 59% higher than the first quarter of 2025, primarily reflecting significantly higher net gains from direct investments related to our Global Banking & Markets activities.
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