Earnings Watch: Goldman Sachs earnings: What to expect

by | Oct 17, 2023 | Stock Market

Goldman Sachs Group Inc. marks the latest of the six largest U.S. banks to report third-quarter profit on Tuesday against mostly reduced Wall Street expectations for the sector and weak stock prices. Here’s what to expect when the bank delivers numbers before the opening bell. Earnings: Analysts tracked by FactSet expect Goldman Sachs
to report earnings of $5.74 a share, down from $8.25 a share in the year-ago quarter.

The earnings estimate of $5.74 a share has come down sharply from three months ago, when analysts expected the bank to earn $6.82 a share. Estimize, which crowdsources estimates from academics, sell and buy-side analysts, retail investors and more, is expecting EPS of $6.02. Revenue: The FactSet consensus calls for Goldman Sachs to post $11.15 billion in third-quarter revenue, down from $11.98 billion a year ago. Estimize is expecting revenue of $11.31 billion. Stock movement: Goldman Sachs stock holds the distinction of being the only big U.S. bank with a positive performance in the third quarter, with a slim 0.3% gain. However, the stock has fallen 8.5% in the past month, compared to a 1.9% drop by the Dow Jones Industrial Average
What else to watch for: Goldman Sachs Chief Executive David Solomon has been under scrutiny after disclosing losses in the consumer banking unit and drawing criticism from within th …

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