Goldman Sachs is set to report its third-quarter earnings before the market opens on Tuesday, with Wall Street closely watching the investment banking giant’s performance, CNBC reports.
Analysts are expecting earnings of $6.89 per share and revenue of $11.8 billion, according to data from LSEG.
Key figures expected for the third quarter include trading revenue of $2.91 billion from fixed income and $2.96 billion from equities, according to StreetAccount. Additionally, investment banking revenue is projected at $1.62 billion, while the asset and wealth management division is forecast to bring in $3.58 billion.
As the Federal Reserve shifts towards easing interest rates, Goldman Sachs could see improved conditions, particularly as corporations look to engage in mergers, acquisitions, and fundraising activities that were previously delayed. The bank’s asset and wealth management unit also stands to benefit from rising asset values in the declining rate environment.
Goldman’s upcoming report follows better-than-expected results from rivals JPMorgan Chase and Wells Fargo, which have set high expectations for the broader sector. Goldman executives will hold a call with analysts at 9:30 a.m. ET to discuss the results.
