Jon Quast

It's the start of earnings season and Goldman Sachs is kicking us off.

You're listening to Motley Fool Money.

Welcome to Motley Fool Money with the Hidden Gems team.

I'm Jon Quast and I'm joined today by Fool contributors Rachel Warren and special guest Jason Hall today.

Thank you all for being with us.

Look, we're going to get right to our first story here and that is that investment bank Goldman Sachs just reported financial results.

And I just want to, for context, put out there that every three months,

Publicly traded companies report their financial results to investors and usually these reports are concentrated all kind of in a few weeks of a time span.

And so that's what we call earnings season.

It's not required, but it just kind of how it happens.

And there's always banking companies that kick us off and

Investment bank Goldman Sachs is really kind of the first one out of the gate with first quarter of 2026 results here this morning.

Rachel, let's talk about the numbers.

What are just a couple of numbers here that investors should be interested in?

Some other things that were in the Goldman Sachs report here, and I want to turn this to Jason.

So I did notice that fixed income, currencies, commodities, or FICC revenue, that was actually down 10%.

But then on the other side, we see that equities revenue is up 27%.

And so for a person such as myself, maybe somebody out there listening who doesn't really follow banks all that much, doesn't really follow Goldman Sachs all that much, seeing one part of the business up, one part down, are there any high-level takeaways that we can have there and anything that we should know about the economy from that?

All right.

So as we go ahead and start closing out this discussion of Goldman Sachs, I just want to frame this in the context of the kickoff of earnings season.