Goldman Sachs fourth quarter results are coming – what the Street expects

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

Michael Nagle | Bloomberg | Getty Images

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

Here’s what Wall Street expects:

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Goldman Sachs fourth quarter results are coming – what the Street expects

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

How long will the investment banking drought last?

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

While the fourth quarter was ugly for bankers – Wall Street rivals JPMorgan Chase and Citigroup each posted a nearly 60% drop in investment banking revenue last week — analysts are questioning the odds of a rebound later this year.

They will also hear Solomon’s views on headcount and spending after the bank laid off up to 3,200 staff last week, as well as details on Goldman’s consumer business as it scales back its ambitions there.

Goldman shares are up 8.9% this year entering Tuesday’s trade, compared with a 6.7% gain for the KBW Bank Index.

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

This story is in development. Please check back for updates.

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