Goldman Sachs earnings on deck as CEO David Solomon feels pressure to boost profits

📆 17/10/2023 19.49.00
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Under fire to produce bigger profits, Goldman CEO David Solomon is sharpening the banks focus and deal-making and wealth management while exiting consumer-facing businesses.

shares edged higher in pre-market trading ahead of the investment bank's third quarter earnings prior to the opening bell.

Merger activity is over the first nine months of 2023 is down around 27% from last year's levels, according to Refinitiv data, with around $2 trillion in deals completed - the lowest total since 2013. Overall third quarter fees, according to Dealogic, are down 17% from last year at $15.2 billion. Goldman will also take a 19 cents per share hit to its third quarter earnings from the sale of GreenSky, it home improvement lending unit, which wrapped-up earlier this month.

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