News Formal

Goldman Sachs posts its worst earnings miss in a decade as revenue falls while expenses rise

  • 📰 CNBC
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 72%

France Nouvelles Nouvelles

France Dernières Nouvelles,France Actualités

EARNINGS: -Goldman Sachs posts its largest earnings miss in a decade -Morgan Stanley’s earnings top Wall Street expectations TheDomino has the numbers.

Revenue: $10.59 billion vs. $10.83 billion

The bank said quarterly profit plunged 66% from a year earlier to $1.33 billion, or $3.32 per share, about 39% below the consensus estimate. That made for the largest EPS miss since Oct. 2011, according to Refinitiv data.Shares of the New York-based bank dipped 2.4% in premarket trading. "Widely expected to be awful, Goldman Sachs' Q4 results were even more miserable than anticipated," Octavio Marenzi, CEO of Wall Street consultancy Opimas, said in an email. "Revenues were largely in line with forecasts, but earnings took a big hit. The real problem lies in the fact that operating expenses shot up 11%, while revenues tumbled."Goldman said operating expenses jumped 11% from a year earlier to $8.

How long will the investment banking drought last? That's one of the top questions analysts will have for Goldman CEO David Solomon.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 12. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Goldman Sachs is set to report fourth-quarter earnings — here's what the Street expectsHow long will the investment banking drought last? That's one of the top questions analysts will have for Goldman CEO David Solomon. Their starting salary Kicks the House Down. Thats what I think.
La source: CNBC - 🏆 12. / 72 Lire la suite »

Goldman Sachs misses its earnings estimate, while Morgan Stanley beats as profits dropWhile Morgan Stanley beat its earnings target and Goldman fell well short, both investment banks reported lower net income against a strong year-ago quarter.
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

Stocks bonds options to buy in 2023: Goldman Sachs strategy outlookGoldman Sachs lays out its strategy for profiting with stocks, bonds, and options in 2023 despite a rocky year — and why investors shouldn't make any big strategy changes bei durchschnittlich über 100Std. Wochenarbeitszeit geht sich schon das eine und andere Strategiepapier aus 🤦‍♂️
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »