David Solomon, Goldman Sachs interview with David Faber, September 7, 2023.
CNBC
Goldman Sachs is scheduled to report second-quarter earnings before the market opens on Monday.
Here’s what Wall Street expected:
- Earnings per share were $8.34, according to LSEG
- Revenue: $12.46 billion, according to LSEG
- Trading revenue: $2.96 billion in fixed income and $3.17 billion in equities, according to StreetAccount
- Investment banking revenue was $1.8 billion, according to StreetAccount
Expectations are high for Goldman Sachs, whose Wall Street business is on the rebound after a dismal 2023.
That’s because of the Big Six U.S. banks, Goldman Sachs is the one that relies most heavily on investment banking and trading to generate revenue.
Another focus this season will be asset and wealth management, areas that Goldman Sachs Chief Executive David Solomon is betting could become growth engines for the bank.
friday, rivals JPMorgan and Citigroup Both topped expectations amid soaring investment banking fees and better-than-expected stock trading results.
Bank of America and Morgan Stanley Results are reported Tuesday.
This story is developing. Please check back for updates.
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