Goldman Sachs’ (NYSE:GS) Q3 Earnings May Continue to Disappoint

Goldman Sachs (NYSE:GS) will release its Q3 financials on October 17, 2023. However, analysts’ earnings estimates suggest that Q3 earnings may continue to be disappointing. Investors should note that Goldman Sachs’ CEO, David Solomon, said during the Q2 conference call that the activity levels in various areas of investment banking are near the lowest points in the past decade.

Speaking at the Barclays 21st Annual Global Financial Services Conference, Solomon said the “environment for capital markets activity is improving.” However, “It’s still way off, what I’ll call cycle averages, but definitely improving.” These statements suggest that Goldman Sachs continues to face challenges and could deliver lower sales and earnings in Q3.