Goldman Sachs is set to report fourth-quarter earnings — here's what the Street expects
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Goldman Sachs is scheduled to report fourth-quarter earnings before the opening bell Tuesday.
Here's what Wall Street expects:
Goldman Sachs CEO David Solomon has endured a tough year, thanks to dormant capital markets and strategic missteps.
But hope is building that Goldman can turn a corner after pivoting away from Solomon's failed consumer banking efforts.
Goldman's core activities of investment banking and trading may not recover in the fourth quarter, but analysts will want to hear about the possibility of a rebound in 2024. Early signs are that corporations that have waited on the sidelines to acquire competitors or raise funds may finally be ready to act this year.
Unlike more diversified rivals, Goldman gets most of its revenue from Wall Street. That can lead to outsized returns during boom times and underperformance when markets don't cooperate.
On Friday, JPMorgan Chase, Bank of America, Citigroup and Wells Fargo each posted results that were marred by a litany of one-time items.
This story is developing. Please check back for updates.
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