Goldman Sachs (GS) earnings 4Q 2023


David Solomon, Chairman and CEO, Goldman Sachs, participates in a panel discussion during the annual Milken Institute Global Conference at The Beverly Hilton Hotel on April 29, 2019 in Beverly Hills, California.

Michael Kovac | Getty Images Entertainment | Getty Images

Goldman Sachs is scheduled to report fourth-quarter earnings before the opening bell Tuesday.

Here’s what Wall Street expects:

  • Earnings: $3.51 per share, according to LSEG, formerly known as Refinitiv
  • Revenue: $10.8 billion, according to LSEG
  • Trading revenue: fixed income of $2.53 billion and equities of $2.22 billion, per StreetAccount
  • Investment banking revenue: $1.65 billion, per StreetAccount

Goldman Sachs CEO David Solomon has endured a tough year, thanks to dormant capital markets and strategic missteps.

But hope is building that Goldman can turn a corner after pivoting away from Solomon’s failed consumer banking efforts.

Goldman’s core activities of investment banking and trading may not recover in the fourth quarter, but analysts will want to hear about the possibility of a rebound in 2024. Early signs are that corporations that have waited on the sidelines to acquire competitors or raise funds may finally be ready to act this year.

Unlike more diversified rivals, Goldman gets most of its revenue from Wall Street. That can lead to outsized returns during boom times and underperformance when markets don’t cooperate.

On Friday, JPMorgan Chase, Bank of America, Citigroup and Wells Fargo each posted results that were marred by a litany of one-time items.

This story is developing. Please check back for updates.



Source link

Recommended For You

About the Author: Tony Ramos

Tony Ramos is a seasoned expert in business funding and real estate investment, with a remarkable journey spanning over 20 years. His expertise in flipping properties and implementing the buy-and-hold strategy has positioned him well in the real estate investment sector. Tony's profound understanding of financial strategies extends to teaching individuals and businesses how to become debt-free and leverage the power of LLCs for funding. For insights, mentorship, or collaboration opportunities, Tony can be reached at businessfundingnopg@gmail.com. Connect with him to unlock the potential of smart financial strategies and embark on a path to financial success and freedom.

Leave a Reply

Your email address will not be published. Required fields are marked *