Goldman Sachs (GS) earnings Q3 2021

Goldman Sachs is scheduled to report third-quarter earnings earlier than the opening bell Friday.

Here is what Wall Avenue expects:

• Earnings: $10.11 per share, 13% increased than a yr earlier, based on Refinitiv.
• Income: $11.67 billion, 8.3% increased than a yr earlier.
• Funding Banking Income: $2.93 billion, based on StreetAccount estimates.
• Buying and selling Income: Mounted Earnings: $1.97 billion, Equities: $2.08 billion,

How will Goldman Sachs climate the decline in third-quarter bond buying and selling income?

That is a key query for Goldman, the place buying and selling makes up a much bigger slice of revenues than at its huge financial institution friends.

Nevertheless, CEO David Solomon has a number of levers to tug to offset a drop in fastened revenue income. Goldman has the world’s premier funding banking franchise, the place analysts anticipate robust income from mergers and IPO exercise.

Its wealth and asset administration companies ought to profit from excessive fairness values. And the agency’s client banking companies have continued to develop. All that feeds into Solomon’s efforts to enhance the stability of outcomes on the firm.

Analysts are more likely to ask Solomon in regards to the rationale for his $2.24 billion acquisition of fintech lender GreenSky. The deal is predicted to shut by the primary quarter of 2022.

The financial institution mentioned final month that CFO Stephen Scherr would step down by year-end, to be replaced by Denis Coleman, the present co-head of the agency’s International Financing Group.

Goldman shares have climbed 47% this yr, exceeding the 37% rise of the KBW Financial institution Index

Goldman is the final of the six largest U.S. banks to report earnings. JPMorgan Chase, Bank of America, Morgan Stanley, Citigroup, Wells Fargo all exceeded expectations for revenue and income, helped by reserve releases and powerful funding banking income.

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