In this article
- GS
Goldman Sachs is scheduled to report first-quarter earnings before the opening bell Monday.
Here's what Wall Street expects:
- Earnings: $8.56 per share, according to LSEG
- Revenue: $12.92 billion, according to LSEG
- Trading Revenue: Fixed income of $3.64 billion and equities of $2.95 billion, per StreetAccount
- Investing Banking Revenue: $1.77 billion, per StreetAccount
Goldman Sachs CEO David Solomon has taken his lumps in the past year, but hope is building for a turnaround.
Dormant capital markets and missteps tied to Solomon's ill-fated push into retail banking should give way to stronger results this year.
Rivals JPMorgan Chase and Citigroup posted better-than-expected trading results and a rebound in investment banking fees in the first quarter; investors will be disappointed if Goldman doesn't show similar gains.
Unlike more diversified rivals, Goldman gets most of its revenue from Wall Street activities. That can lead to outsized returns during boom times and underperformance when markets don't cooperate.
After pivoting away from retail banking, Goldman's new emphasis for growth has centered on its asset and wealth management division. The business could see gains from buoyant markets at the start of the year, though it also has taken write-downs tied to commercial real estate in the past.
Solomon may also field questions about the latest examples of an exodus in senior managers, including his global treasurer Philip Berlinski and Beth Hammack, co-head of the bank's global financing group.
On Friday, JPMorgan, Citigroup and Wells Fargo each posted quarterly results that topped estimates.
This story is developing. Please check back for updates.
Don’t miss these exclusives from Our PRO
- Friday's biggest analyst calls: Apple, Amazon, Tesla, Microsoft, Boeing, First Solar, Schwab & more
- Citi says this ‘high risk’ but ‘attractive’ global stock has 280% upside
- This AI stock could fall 50% and has an ‘exaggerated artificial intelligence narrative,’ Morningstar says
- Morgan Stanley names 3 overlooked global tech stocks, giving one almost 100% upside
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
