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Monday, February 6, 2023

The earnings report for Goldman Sachs’s fourth quarter is scheduled to be released; the following is what Wall Street anticipates the report will show

Tuesday morning, before to the opening bell, Goldman Sachs is expected to publish its profits for the previous quarter.

The following is what is anticipated by Wall Street:

  • According to Refinitiv, earnings came in at $5.48 per share, which is 49% below what they were a year earlier.
  • Earnings came in at $10.83 billion, down 14% from the previous year’s total.
  • Trading Revenue: $2.31 billion from fixed income and $2.14 billion from equity markets
  • Investing Banking: $1.75 billion

How much longer will the dry spell in investment banking continue?

This will likely be one of the most important questions that analysts have for David Solomon, the CEO of Goldman Sachs.

Although the fourth quarter was a difficult one for bankers (Wall Street rivals JPMorgan Chase and Citigroup both announced drops in investment banking income of about 60% last week), experts are unsure of the likelihood that the industry will see a resurgence at some point later this year.

They will also be interested in hearing Solomon’s thoughts on headcount and expenditures after the bank’s decision last week to lay off up to 3,200 personnel, as well as information about Goldman’s consumer business as the company reduces its goals in that sector.

In comparison to the gain of 6.7% seen by the KBW Bank Index as of the opening of trade on Tuesday, shares of Goldman Sachs have advanced 8.9% so far this year.

While Wells Fargo and Citigroup reported earnings that were more mixed, JPMorgan Chase and Bank of America surpassed analysts’ projections for their profits last week due to rising net interest income. In addition, Morgan Stanley is expected to publish its findings on Tuesday.

David Faber
I am a Business Journalist of The National Era
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