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

📆 10/17/2023 5:49 AM
📰 startelegram

⏱ Reading Time:
25 sec. here
2 min. at publisher
📊 Quality Score:
News: 13%
Publisher: 63%

United States News News

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.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Goldman Sachs is set to report third-quarter earnings — here's what Wall Street expectsWhile Goldman Sachs has made efforts under CEO David Solomon to diversify its revenue stream, it is Wall Street that powers the company.
Source: CNBC - 🏆 12. / 72 Read more »

Goldman Sachs Reports Earnings Tuesday. What to Expect.The bank's profit in the third quarter is expected to fall by 32%, to $2 billion.
Source: MarketWatch - 🏆 3. / 97 Read more »