David Solomon, Chairman and CEO of Goldman Sachs, speaks on CNBC's Squawk Box at the World Economic Forum's annual meeting in Davos, Switzerland, on January 17, 2024.
Adam Galese | CNBC
Goldman Sachs It is scheduled to report first-quarter earnings before the opening bell on Monday.
Here's what Wall Street expects:
Earnings: $8.56 per share, according to LSEG Revenue: $12.92 billion, according to LSEG Trading revenue: Fixed income of $3.64 billion and stocks worth $2.95 billion, per StreetAccountInvesting Banking revenue: $1.77 billion, per StreetAccount
Goldman Sachs CEO David Solomon got his lumps last year, but hope is growing for a turnaround.
Sleepy capital markets and mistakes associated with Solomon's ill-fated push into retail banking should give way to stronger results this year.
His competitors C. B. Morgan Chase And Citigroup It reported better-than-expected trading results and a rebound in investment banking fees in the first quarter. Investors will be disappointed if Goldman does not show similar gains.
Unlike more diversified competitors, Goldman gets most of its revenue from Wall Street activities. This can lead to huge returns during booms and underperformance when markets don't cooperate.
After moving away from retail banking, Goldman's new growth focus is on its asset and wealth management division. The company could see gains from buoyant markets at the start of the year, although it has also taken writedowns related to commercial real estate in the past.
Solomon may also answer questions about the latest examples of the exodus of senior managers, including its global treasurer Philip Berlinski and Beth Hammack, co-head of the bank's global finance group.
On Friday, JPMorgan, Citigroup and… Wells Fargo Each posted quarterly results that beat estimates.
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