Goldman Sachs to report Q3 numbers

Goldman Sachs will release its third-quarter figures on Thursday 16 October at 12.30pm (London time). Dealers are expecting revenue of $7.82 billion and earnings per share of 321 cents.

Goldman Sachs logo
Source: Bloomberg

Goldman Sachs is trading at $179.81. The share price is up 7.5% since the bank reported its second-quarter results in July, when revenue came in a $9.12 billion and EPS was 410 cents. Analysts’ estimates were $7.97 billion and 308 cents respectively. Revenue from fixed income, currency and commodity trading was $2.2 billion. Fixed income trading revenue dropped by 9% while the equity division dropped by 11% — this is a common theme among Wall Street banks.

Even though tighter regulation and a decline in market volatility impacted trading activity, 2014 has been a good year for raising capital, underwriting of debt and equity which rose by 14%. Investment banking fees and income from asset management increased by 15% and 8% respectively.

JPMorgan Chase’s third-quarter EPS narrowly missed estimates but trading revenue rose on the period while Citigroup posted a 13% increase in third-quarter profits, exceeding expectations.

Equity analysts are bullish on Goldman Sachs. Out of the 34 recommendations, ten are buys, 19 are holds and five are sells. Goldman’s stock is receiving support at $173.67 but a turnaround in trading revenue could drive the share price to $186.

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