David Solomon, chief executive officer of Goldman Sachs Group Inc., during a Bloomberg teleconference at the Goldman Sachs Financial Services Conference in New York, U.S., on Tuesday, December 6, 2022.
Michael Nagle | Bloomberg | beautiful pictures
Goldman book is expected to report fourth-quarter earnings before the opening bell on Tuesday.
Here’s what Wall Street expects:
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- Earnings: $5.48 per share, 49% less than a year earlier, according to Refinitiv
- Revenue: $10.83 billion, 14% lower than a year earlier.
- Transaction revenue: Fixed Income $2.31 billion, Equity $2.14 billion
- Investment bank: $1.75 billion
How long will the investment banking drought last?
That’s one of the top questions analysts will have for Goldman CEO David Solomon.
While the fourth quarter was a bad one for bankers – Wall Street rivals JPMorgan Chase and Citigroup reported a nearly 60% drop in investment banking revenue last week — analysts question the resilience around the end of the year.
They’ll also want to hear Solomon’s view on headcount and post-banking costs laid off up to 3,200 employees last weekas well as details of Goldman’s consumption as it reweighed ambition there.
Shares of Goldman have gained 8.9% this year since Tuesday trading, compared with a 6.7% gain in the KBW Bank Index.
Last week, JPMorgan Chase and Bank of America Profits exceed expectations due to increased net interest income, while Wells Fargo and Citigroup posted mixed results. Morgan Stanley The results are also scheduled to be announced on Tuesday.
This story is evolving. Please check back for updates.
