Here comes Goldman Sachs…

Goldman Sachs is expected to report first-quarter earnings at 7:30 a.m. Tuesday.

Analysts are expecting adjusted earnings per share of $2.49 on revenue of $7.11 billion, according to Bloomberg.

In the same period last year, Goldman Sachs had a massive quarter, reporting adjusted earnings per share of $6 (versus $4.26 expected) on revenue $10.62 billion ($9.31 billion expected).

Last quarter, Goldman earned an adjusted $4.68 per share on revenue of $7.27. Unadjusted earnings per share were $1.27, due mainly to a $5 billion mortgage-backed securities-related settlement the firm paid.

“Looking ahead, we believe our strong global client franchise leaves us well positioned to generate superior returns over the long term,” CEO Lloyd Blankfein said in a statement at the time.

The first quarter is typically the strongest for investment banks, but has been unusually weak on Wall Street this year.
Choppy trading conditions in early 2016, fears over China’s growth, and a collapsed oil price created a
“perfect storm”
for banks. More on that here.

JPMorgan, Bank of America, Wells Fargo Citi, and Morgan Stanley have already reported first-quarter earnings, each beating or matching analyst expectations despite significant declines in profit.

We’ll be back with the numbers live.

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