Goldman Sachs (GS) — October 15
Goldman’s stock trades at the same level as it did nearly three years ago as the company continues to pivot from an investment bank to a more consumer-focused firm. Two of the company’s critical revenue streams, trading and investment banking, face new competition in the form of commission-free trading and cheap robo-advisers.
The third quarter also marks the end of CEO David Solomon’s first year helming the company, so investors will surely want to hear more on how his leadership will move the company into the digital age.
The earnings report is unlikely to reveal a sudden change in Goldman’s strategies, and instead show steady growth in new sectors and a move away from traditional businesses. Look for strong figures in the bank’s lending, retail banking, and savings account businesses to signal success in Goldman’s transition period.
Here are Wall Street’s quarterly estimates heading into the week:
- Revenue: estimated $8.34 billion, versus $8.65 billion in the year-ago period
- Earnings per share: estimated $4.95, versus $6.28 in the year-ago period