Goldman Sachs Chairman and CEO David Solomon speaks on CNBC’s Squawk Box during the World Economic Forum Annual Meeting in Davos, Switzerland on January 17, 2024.
Adam Garisi | CNBC
Goldman Sachs is scheduled to report fourth-quarter results before the opening bell on Wednesday.
Here’s what Wall Street is expecting.
Revenue: $8.22 per share, LSEG revenue: $12.39 billion, LSEGT trading revenue: $2.45 billion in bonds, $3.0 billion in equities, Street Investment banking revenue per account: $2.01 billion, Street Per account
Goldman Sachs is riding the wave of excitement over a rebound in trading on Wall Street.
The bank’s stock price rose nearly 50% last year, outpacing big banks, as the Federal Reserve’s monetary easing cycle and the election of President Donald Trump in November raised expectations for mergers and stock deals. Ta.
Goldman’s fourth-quarter results will give investors an indication of what to expect this year, as investment banking fees and trading fees are both expected to rise by double-digit percentages. Industry investment banking revenues rose 29% in the quarter due to increased advisory and equity capital markets activity, according to Dealogic statistics.
Additionally, the strong stock market late last year will boost the performance of the company’s wealth and asset management division, which CEO David Solomon calls the company’s growth engine.
For Solomon, the situation was no different from a year ago, just after making a strategic shift from its ill-fated foray into consumer finance. At the time, Mr. Solomon was under pressure to placate insiders, including Goldman’s partners, as consumer finance losses mounted, rising interest rates and increased regulatory scrutiny dried up Wall Street trading. .
JPMorgan Chase will also report results on Wednesday, along with Wells Fargo and Citigroup, and Bank of America and Morgan Stanley are also scheduled to report results on Thursday.
This story is developing. Please check back for the latest information.
