Goldman Sachs will announce its Q4 2024 earnings, with Wall Street anticipating strong results driven by investment banking and trading.
Wall Street’s got its eyes on earnings of $8.22 per share and revenue hitting around $12.39 billion. They’re also looking at trading revenue, expecting $2.45 billion from fixed income and $3 billion from equities. Plus, investment banking revenue is projected to be about $2.01 billion.
The excitement around Goldman is real, especially with a rebound in Wall Street deals. Last year, their shares shot up nearly 50%, outpacing other big banks. The Federal Reserve’s easing cycle and Trump’s election in November really got the merger and stock deal expectations soaring.
This earnings report will give investors a sneak peek into what’s coming this year. Both investment banking and trading fees are expected to rise significantly. In fact, investment banking revenue for the whole industry jumped 29% last quarter, thanks to more advisory and equity capital market activity.
And let’s not forget about the stock market’s strong performance late last year, which should help boost results in their asset and wealth management division. CEO David Solomon has called this division the firm’s growth engine.
Things are looking a lot different for Solomon now compared to last year when he was dealing with the fallout from a failed consumer finance venture. Back then, he was under pressure from Goldman partners as losses piled up and Wall Street deals dried up due to rising rates and stricter regulations.
On the same day, JPMorgan Chase, Wells Fargo, and Citigroup will also be reporting their results, while Bank of America and Morgan Stanley will follow on Thursday.
This story is still unfolding, so keep an eye out for updates!
