Goldman Sachs (GS) earnings Q1 2024 | USAEMALL.com

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

Here’s what Wall Street expects:

• Earnings: $8.56 per share, in line with LSEG
• Revenue: $12.92 billion, in line with LSEG
• Trading Revenue: Fixed revenue 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 previously 12 months, 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 approach to stronger outcomes this 12 months.

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 related beneficial properties.

Unlike extra diversified rivals, Goldman will get most of its income from Wall Street actions. That can 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 development has centered on its asset and wealth administration division. The enterprise may see beneficial properties from buoyant markets firstly of the 12 months, although it additionally has taken write-downs tied to industrial actual property previously.

Solomon can also subject questions in regards to 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.

This story is growing. Please examine again for updates.