David Solomon, Goldman Sachs interview with David Faber, September 7, 2023.
CNBC
Goldman Sachs is predicted to announce its second-quarter results on Monday before the stock market opens.
This is what Wall Street expects:
- Earnings: $8.34 per share, in line with LSEG
- Revenue: $12.46 billion, in line with LSEG
- Trading volume: Fixed income securities of $2.96 billion, equities of $3.17 billion, in line with StreetAccount
- Investment banking revenue: $1.80 billion, in line with StreetAccount
Expectations are high for Goldman Sachs as Wall Street firms are within the midst of a recovery after a dismal 2023.
The reason for that is that of the six largest U.S. banks, Goldman relies most heavily on investment banking and trading to generate revenue.
Another focus of the quarter might be asset management, areas that Goldman CEO David Solomon believes can turn out to be a growth engine for the bank.
On Friday, rivals JPMorgan Chase And Citigroup each beat expectations because of rising investment banking fees and better-than-expected leads to equity trading.
Bank of America And Morgan Stanley The results might be announced on Tuesday.
This story is developing. Please check back later for updates.
