Goldman Sachs to report 'only second ever quarterly loss'

clock

Investment bank Goldman Sachs is expected to report only its second ever quarterly loss when it unveils its numbers next week, Credit Suisse analysts have warned.

According to a report in the Telegraph, Credit Suisse has forecast a loss of $392m for Goldmans in the three months to the end of September. Others are also downbeat, with Barclays predicting Goldmans will see losses in the region of $180m. A quarterly loss for the Wall Street behemoth would be the first since 2008, and only its second ever since it floated in 1999. Overall revenues are tipped to be down 37% at $1.8bn, and Credit Suisse also warned Goldman's investment banking division, which has been hit by fears about the European debt crisis and an economic slowdown in the US, will...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read