Goldman Sachs, Bank Of America And Morgan Stanley Continue Last Week's Momentum Of Exceeding Estimates Despite The Macroeconomic Turmoil
Portfolio Pulse from Upwallstreet
Goldman Sachs, Bank of America, and Morgan Stanley have released their earnings reports, exceeding estimates despite challenging macroeconomic conditions. Goldman Sachs reported a 33% profit drop but still exceeded expectations with earnings per share of $5.47. Bank of America's profit rose 10% YoY to $7.8 billion, topping estimates. Morgan Stanley's revenue rose 2% YoY to $13.27 billion, slightly above estimates, but its wealth management performance disappointed.
October 20, 2023 | 6:03 pm
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POSITIVE IMPACT
Bank of America's profit rose 10% YoY to $7.8 billion, topping estimates.
Bank of America's profit exceeded estimates, which could positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Goldman Sachs reported a 33% profit drop but still exceeded expectations with earnings per share of $5.47.
Despite a drop in profit, Goldman Sachs exceeded earnings expectations, which could positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Morgan Stanley's revenue rose 2% YoY to $13.27 billion, slightly above estimates, but its wealth management performance disappointed.
Morgan Stanley's revenue slightly exceeded estimates, but the disappointing performance of its wealth management division could neutralize any potential positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100