Goldman Sachs Chairman and CEO David Solomon speaks on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland, January 17, 2024.
Adam Galich | CNBC
Goldman Sachs It is scheduled to release third-quarter earnings before the market opens on Tuesday.
Here’s what Wall Street expected:
- Earnings per share were $6.89, according to LSEG
- Revenue: $11.8 billion, according to LSEG
- Trading revenue: $2.91 billion in fixed income and $2.96 billion in equities, according to StreetAccount
- Investment banking revenue: $1.62 billion per StreetAccount
- Asset and Wealth Management: $3.58 billion per StreetAccount
How much will falling interest rates help Goldman Sachs?
The Federal Reserve’s tightening policies over the past two years have created a less than ideal environment for investment banks such as Goldman Sachs.
Now that the Federal Reserve is easing interest rates, that’s benefiting Goldman Sachs as companies that have been waiting to acquire rivals or raise capital begin to take action.
As interest rates fall, Goldman’s asset and wealth management units will also benefit from rising asset values across the market.
Last week, opponents JPMorgan Chase Estimates were boosted by better-than-expected performance from its trading and investment banking businesses, factors that helped the bank beat profit forecasts.
Wells Fargo It also beat expectations on Friday thanks to support from its investment banking unit.
This story is developing. Please check back for updates.
About The Author
