Reported about 1 month ago
Goldman Sachs CEO David Solomon remains optimistic about the firm's performance in 2024 compared to the previous year but warned that the third quarter may face challenges. He highlighted potential pre-tax earnings losses of $400 million due to issues in the consumer business and a projected 10% drop in trading revenue, attributed to market volatility in August. Although investment banking is showing improvement, Solomon noted that several divisions may not match their earlier success, raising concerns for the upcoming quarter.
Source: YAHOO