David Solomon, Goldman Sachs interview with David Faber, September 7, 2023.
CNBC
Goldman Sachs is scheduled to report second-quarter earnings before the market opens on Monday.
This is what Wall Street expects:
- Earnings: $8.34 per share, according to LSEG
- Revenue: $12.46 billion, according to LSEG
- Operating revenue: Fixed income $2.96 billion, equity $3.17 billion, according to StreetAccount
- Investment banking revenue: $1.8 billion, according to StreetAccount
Expectations are high for Goldman Sachs, with Wall Street firms in the midst of a rebound after a dismal 2023.
That's because of the six largest U.S. banks, Goldman is the most reliant on investment banking and trading to generate revenue.
Another focus of the quarter will be asset and wealth management, areas that Goldman CEO David Solomon has bet can be a growth driver for the bank.
On Friday, the rivals JPMorgan Chase and Citigroup Both beat expectations thanks to higher investment banking fees and better-than-expected equity trading results.
Bank of America and Morgan Stanley We will report the results on Tuesday.
This story is developing. Please check back for updates.
