Goldman Sachs is set to report its second-quarter results on Monday, sparking excitement on Wall Street. With the financial sector recovering after a slow 2023, analysts are eager to see how the investment giant will fare.
Goldman Sachs Market Forecast
- Earnings: Analysts polled by LSEG expect earnings per share of $8.34.
- Income: LSEG estimates revenue will reach $12.46 billion.
- Trading revenue: StreetAccount expects fixed income revenue of $2.96 billion and equity revenue of $3.17 billion.
- Banking Investment: StreetAccount forecasts investment banking revenue to reach $1.80 billion.
Goldman Sachs: A heavy dependence on volatile markets
Goldman Sachs relies heavily on investment banking and trading to generate revenue compared to its major U.S. banking peers. This makes the firm particularly susceptible to market fluctuations. The recent recovery in asset prices bodes well for Goldman Sachs’ performance.
Beyond Trade: Exploring Paths to Growth
While trading results are a key focus, investors will also be keen to hear about Goldman Sachs’ progress in wealth and asset management. CEO David Solomon has identified these areas as potential growth drivers for the bank as he looks to diversify its revenue streams.
Colleagues in the industry have set the bar very high
Goldman Sachs rivals JPMorgan Chase and Citigroup recently reported better-than-expected results, beating expectations with strong investment banking fees and solid stock trading performance. That sets a high bar for Goldman Sachs as investors look for similarly positive results.
The week opens for the banking giants
Following Goldman Sachs on Tuesday, Bank of America and Morgan Stanley will also report their quarterly results. This week promises to be full of insights into the health of the financial sector and the broader economic landscape.
Stay informed
This story is developing. Check back for more updates as Goldman Sachs releases its official second-quarter earnings report.
