David Solomon, chief executive officer of Goldman Sachs Group Inc., at the Goldman Sachs Financial Services Conference in New York, Dec. 6, 2022.
Michael Nagle | Bloomberg | Getty Images
Goldman Sachs is scheduled to report third-quarter earnings before the opening bell Tuesday.
Here’s what Wall Street expects:
Earnings: $5.31 a share, according to LSEG, formerly known as Refinitiv
Revenue: $11.19 billion
Trading revenue: fixed income $2.8 billion, equities $2.73 billion, per StreetAccount
Investment banking revenue: $1.48 billion
Is Wall Street deal-making on the mend?
Among its big bank peers, Goldman Sachs is the most reliant on investment banking and trading revenue.
While it’s made efforts under CEO David Solomon to diversify its revenue stream, first in an ill-fated retail banking push and later as it emphasized growth in asset and wealth management, it is Wall Street that powers the company. Last quarter, trading and advisory accounted for two-thirds of Goldman’s revenue.
That’s been a…
2023-10-16 23:01:01
Post from www.cnbc.com