Linked media – Associated media
Goldman Sachs is poised to unveil its second-quarter results on Monday, igniting anticipation on Wall Street. With the financial sector experiencing a rebound after a sluggish 2023, analysts are eager to see how the investment giant has fared.
Market forecast for Goldman Sachs
- Earnings: analysts polled by LSEG predict earnings per share of $8.34.
- Revenue: LSEG estimates revenue to reach $12.46 billion.
- Trading revenue: StreetAccount forecasts fixed income revenue at $2.96 billion and equity revenue at $3.17 billion.
- Investment banking: StreetAccount anticipates investment banking revenue to hit $1.80 billion.
Goldman Sachs: a heavy reliance on volatile markets
Goldman Sachs, compared to its top U.S. bank competitors, is heavily reliant on investment banking and trading for revenue generation. This makes the firm particularly susceptible to fluctuations in the market. The recent recovery in asset prices bodes well for Goldman Sachs’ performance.
Beyond trade: exploring avenues for growth
While trading results are a key focus, investors will also be keen to learn about Goldman Sachs’ progress in wealth and asset management. CEO David Solomon has identified these areas as potential growth engines for the bank, aiming to diversify its revenue streams.
Industry peers set the bar very high
JPMorgan Chase and Citigroup, Goldman Sachs’ rivals, recently reported better-than-expected results, exceeding expectations with strong investment banking fees and robust equity trading performance. This sets a high bar for Goldman Sachs as investors look for similar positive outcomes.
The Week Unfolds for Banking Giants
Following Goldman Sachs on Tuesday, Bank of America and Morgan Stanley will also be reporting their quarterly results. This week promises to be packed with insights into the health of the financial sector and the broader economic landscape.
Stay informed
This story is developing. Check back for further updates as Goldman Sachs releases its official second-quarter earnings report.
Connected media – Linked media