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Wall Street banks to reveal weak quarterly earnings, bleak outlook for 2023

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Earnings per share of the six largest US banks including JPMorgan Chase, Morgan Stanley, and Goldman Sachs are expected to decline by around 10% from the previous year.

Investment banking powerhouses such as Goldman Sachs Group and Morgan Stanley are likely to be affected by sluggish deals and capital markets activity. Some analysts are also predicting a slowdown in trading revenue.

“There will still be incremental increases in provisions coming in this year,” particularly for commercial real estate and potentially consumer credit cards, she said.

 

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Wall Street bank earnings under pressure after crisisMost Wall Street banks are likely to report lower quarterly earnings and face a dour outlook for the rest of the year, with last month's regional banking crisis and a slowing economy expected to hurt profitability. 完璧 And the bigger they are, the harder they fall, Bring it. Manufactured crisis.
Source: Reuters - 🏆 2. / 97 Read more »