Home Others Banking and Insurance Earnings for the second quarte...
Banking and Insurance
Business Fortune
15 July, 2024
Prior to Monday's opening bell, Goldman Sachs is expected to release its second-quarter earnings results.
Here's what Wall Street is anticipating — LSEG has reported an impressive $8.34 in earnings per share. The revenue, based on LSEG data, stands at a staggering $12.46 billion. When it comes to trading revenue, Equities are estimated to be worth an impressive $3.17 billion, while Fixed Income comes in at $2.96 billion, according to StreetAccount. Additionally, there is an impressive $1.80 billion in revenue from investment banking, as reported by StreetAccount. These numbers showcase the remarkable success and growth of LSEG, capturing the attention and anticipation of Wall Street.
Goldman Sachs is expected to perform well since Wall Street companies are currently experiencing a recovery following a poor 2023.
This is due to Goldman's highest reliance on trading and investment banking among the six largest U.S. banks in terms of revenue generation.
Asset and wealth management, which Goldman CEO David Solomon has hinted potentially be a growth engine for the bank, will be another focus for the quarter.
Rivals JPMorgan Chase and Citigroup exceeded forecasts on Friday as a consequence of rising investment banking costs and better-than-anticipated stock trading data.
Results are released by Morgan Stanley and Bank of America on Tuesday.