Goldman Sachs' Anticipated Second-Quarter Earnings: What Wall Street is Predicting

Money | July 15, 2024, 12:33 a.m.

Goldman Sachs is set to disclose its second-quarter earnings before the markets open on Monday, with expectations as follows: earnings of $8.34 per share and revenue of $12.46 billion, according to LSEG. Trading revenue is projected to be $2.96 billion for fixed income and $3.17 billion for equities, while investment banking revenue is estimated at $1.80 billion. As one of the largest U.S. banks heavily reliant on investment banking and trading for revenue, Goldman Sachs faces high expectations as Wall Street businesses recover from a tough 2023. CEO David Solomon has emphasized asset and wealth management as potential growth areas for the bank. Following JPMorgan Chase and Citigroup exceeding expectations on Friday, all eyes are on Goldman Sachs as well as Bank of America and Morgan Stanley, who will report their results in the coming days. Stay tuned for updates on this evolving story.