Goldman Sachs fourth quarter results coming up – what the street expects

David Solomon, CEO of Goldman Sachs Group Inc., at a Bloomberg Television address at the Goldman Sachs Financial Services Conference in New York, U.S., on Tuesday, December 6, 2022.

Michael Nagel | Bloomberg | Getty Images

Goldman Sachs is scheduled to report fourth-quarter results before the opening bell Tuesday.

Here’s what Wall Street expects:

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  • Earnings: $5.48 per share, down 49% year-over-year, according to Refinitiv
  • Revenue: $10.83 billion, down 14% from a year ago.
  • Trading income: fixed income $2.31 billion, equities $2.14 billion
  • Investment banking: $1.75 billion

How long will the investment banking drought last?

That’s one of the top questions analysts will have for David Solomon, CEO of Goldman.

While the fourth quarter was an ugly quarter for bankers – Wall Street rivals JPMorgan Chase and Citi group each reported a nearly 60% decline in investment banking revenues last week — analysts doubt the likelihood of a recovery sometime later this year.

They also want to hear Solomon’s view on headcount and expenses after the bank laid off up to 3,200 employees last week, as well as details on Goldman’s consumer business as it scales back ambitions there.

Goldman shares are up 8.9% this year entering Tuesday’s trading, compared to a 6.7% increase for the KBW Bank Index.

Last week, JPMorgan Chase and Bank of America beat earnings expectations on rising net interest income, while Wells Fargo and Citigroup posted mixed results. Morgan Stanley is also scheduled to release the results on Tuesday.

This story is evolving. Check back later for updates.

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