Goldman Sachs Gears Up For Q3 Reveal: Will Its Earnings Shine Like Other Major Banks?
Portfolio Pulse from Erica Kollmann
Goldman Sachs is set to report its Q3 earnings, following strong performances from JP Morgan and Wells Fargo. Analysts expect Goldman Sachs to continue its trend of beating expectations, with anticipated earnings of $7.03 per share and $11.868 billion in revenue. The Federal Reserve's interest rate cuts could benefit large-cap banks like Goldman Sachs.
October 14, 2024 | 5:06 pm
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Goldman Sachs is expected to report Q3 earnings with anticipated EPS of $7.03 and revenue of $11.868 billion. The bank has a history of beating expectations, and recent interest rate cuts could further benefit its earnings.
Goldman Sachs has consistently beaten earnings expectations in the past, and the current environment of interest rate cuts is favorable for large-cap banks. This suggests a positive short-term impact on GS stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
JP Morgan reported better-than-expected Q3 earnings with a 6% revenue increase, driven by a 31% growth in investment banking fees.
JP Morgan's strong earnings report and revenue growth indicate a positive outlook for the stock, especially with significant growth in investment banking fees.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Wells Fargo exceeded Q3 earnings expectations with an EPS of $1.42, surpassing the consensus estimate of $1.28.
Wells Fargo's better-than-expected earnings suggest a positive short-term impact on its stock price, as it exceeded analyst expectations.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50