David Solomon, Goldman Sachs interview with David Faber, September 7, 2023.
CNBC
Goldman Sachs reported second-quarter earnings before the opening bell Monday.
Here’s what the company reported compared with Wall Street expectations:
- Earnings: $8.62 vs. $8.34 per share, according to LSEG
- Revenue: $12.73 billion vs. $12.46 billion, according to LSEG
Expectations have been set high for Goldman Sachs, with Wall Street businesses in the midst of a rebound after a dismal 2023.
That’s because out of the six biggest U.S. banks, Goldman is the most reliant on investment banking and trading to generate revenue.
Another focal point for the quarter will be in asset and wealth management, areas that Goldman CEO David Solomon has wagered can be a growth engine for the bank.
On Friday, rivals JPMorgan Chase and Citigroup both topped expectations thanks to surging investment banking fees and better-than-expected equities trading results.
Bank of America and Morgan Stanley report results on Tuesday.
This story is developing. Please check back for updates.
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