David Solomon, chief government officer of Goldman Sachs Team Inc., all through a Bloomberg Television at the Goldman Sachs Fiscal Companies Convention in New York, US, on Tuesday, Dec. 6, 2022.
Michael Nagle | Bloomberg | Getty Pictures
Goldman Sachs is scheduled to report fourth-quarter earnings prior to the opening bell Tuesday.
Here is what Wall Street expects:
- Earnings: $5.48 for every share, 49% reduced than a yr earlier, according to Refinitiv
- Profits: $10.83 billion, 14% lower than a yr previously.
- Investing Earnings: Preset Cash flow $2.31 billion, Equities $2.14 billion
- Investing Banking: $1.75 billion
How lengthy will the financial investment banking drought previous?
That is one particular of the top thoughts analysts will have for Goldman CEO David Solomon.
When the fourth quarter was an hideous a single for bankers — Wall Road rivals JPMorgan Chase and Citigroup every single posted declines in expenditure banking revenue of approximately 60% last 7 days — analysts question the odds of a rebound sometime afterwards this yr.
They’ll also want to hear Solomon’s sights on headcount and charges immediately after the financial institution laid off up to 3,200 staff members last week, as nicely as particulars about Goldman’s shopper functions as it scales back again ambitions there.
Goldman shares have climbed 8.9% this yr heading into Tuesday’s buying and selling, when compared with a 6.7% progress for the KBW Bank Index.
Past 7 days, JPMorgan Chase and Financial institution of The us topped gain anticipations on surging web desire money, when Wells Fargo and Citigroup posted mixed success. Morgan Stanley is also scheduled to launch effects Tuesday.
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