Why Goldman Sachs Shares Are Rising
Portfolio Pulse from Henry Khederian
Goldman Sachs Group Inc (GS) shares are trading higher by 2.5% amid earnings results from several banks. The company is expected to report EPS of $3.18 on revenue of $10.84 billion in its second-quarter earnings report. Bank of America announced a notable year-over-year net income growth of 19% for the second quarter of FY23, reaching $7.4 billion.
July 18, 2023 | 5:27 pm
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Bank of America announced a notable year-over-year net income growth of 19% for the second quarter of FY23, reaching $7.4 billion.
Bank of America's strong Q2 earnings report, with a 19% YoY net income growth, may have a positive impact on its share price. This could also contribute to the positive sentiment in the banking sector.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Goldman Sachs shares are trading higher by 2.5% ahead of its Q2 earnings report. The company is expected to report EPS of $3.18 on revenue of $10.84 billion.
The rise in Goldman Sachs' share price is likely due to the anticipation of a positive Q2 earnings report. The strong earnings results from other banks may also be contributing to the positive sentiment around GS.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100