David Solomon

  • Goldman Sachs will report its first-quarter results on Monday morning.
  • It is the third major US bank to do so. 
  • On Friday, JPMorgan and Wells Fargo both announced better-than-expected results.
  • Watch Goldman Sachs trade live.

Goldman Sachs is set to report its first-quarter results ahead of Monday’s opening bell. Here’s what Wall Street analysts surveyed by Bloomberg are expecting:

  • Adjusted net income: $1.8 billion.
  • Adjusted earnings-per-share: $4.97
  • Revenue: $9.0 billion.
  • Operating profit: $2.7 billion.
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Credit Suisse analyst Susan Roth Katzke anticipates “weakness relative to year ago levels in both trading and investment banking.” Shes add that the bank’s forward outlook “ought to be as important as first quarter results.” 

JPMorgan kicked off bank results Friday morning posting record results that shares climbing by more than 4%. Trading results at JPMorgan modestly beat expectations, potentially indicating a positive trading environment for Goldman.

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“In the first quarter of 2019, we had record revenue and net income, strong performance across each of our major businesses, and a more constructive environment,” said CEO Jamie Dimon in the earnings statement.

This performance was in stark contrast to that of Wells Fargo, where CFO John Shrewsberry provided disappointing guidance on net interest margins, causing Wells Fargo shares to drop nearly 3%.

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The bank is also expected to provide an update on the Malaysian 1MDB scandal, which has weighed on its shares.

Goldman Sachs was up 24% this year thorough Friday.

 

GS stock chartMarkets Insider

 

 

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