Goldman Sachs (GS) earnings Q1 2024

Goldman Sachs is scheduled to report first-quarter earnings earlier than the opening bell Monday.

Here is what Wall Avenue expects:

• Earnings: $8.56 per share, in accordance with LSEG
• Income: $12.92 billion, in accordance with LSEG
• Buying and selling Income: Fastened revenue of $3.64 billion and equities of $2.95 billion, per StreetAccount
• Investing Banking Income: $1.77 billion, per StreetAccount

Goldman Sachs CEO David Solomon has taken his lumps previously yr, however hope is constructing for a turnaround.

Dormant capital markets and missteps tied to Solomon’s ill-fated push into retail banking ought to give strategy to stronger outcomes this yr.

Rivals JPMorgan Chase and Citigroup posted better-than-expected buying and selling outcomes and a rebound in funding banking charges within the first quarter; buyers will probably be dissatisfied if Goldman does not present comparable beneficial properties.

In contrast to extra diversified rivals, Goldman will get most of its income from Wall Avenue actions. That may result in outsized returns throughout increase occasions and underperformance when markets do not cooperate.

After pivoting away from retail banking, Goldman’s new emphasis for progress has centered on its asset and wealth administration division. The enterprise may see beneficial properties from buoyant markets in the beginning of the yr, although it additionally has taken write-downs tied to business actual property previously.

Solomon may additionally discipline questions concerning the newest examples of an exodus in senior managers, together with his international treasurer Philip Berlinski and Beth Hammack, co-head of the financial institution’s international financing group.

On Friday, JPMorgan, Citigroup and Wells Fargo every posted quarterly outcomes that topped estimates.

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