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Goldman Sachs Reports Earnings Tuesday. What to Expect.

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The bank's profit in the third quarter is expected to fall by 32%, to $2 billion.

Goldman Sachs can prove that it’s serious about getting back to its investment banking roots when it posts third-quarter earnings on Tuesday.

And even though markets have been frenzied with the surge in bond yields, trading revenue isn’t expected to wow either. With deal-making and trading off sharply from the booming times of 2021, Wall Street will instead be focused on more strategic issues, such as the bank’s retreat from its costly foray into consumer banking.

“This transaction demonstrates our continued progress in narrowing the focus of our consumer business,” said Goldman CEO David Solomonsaid last week, noting the sale would allow the bank to focus on its strengths in investment banking and wealth management. “While GreenSky is an attractive business, we are focused on advancing the strategy we laid out for our two core franchises.”

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