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Goldman Sachs has reportedly warned Wall Street about its tanking profits
 [NYPOST] Goldman Sachs is taking the unprecedented step of telling Wall Street analysts that the investment banking giant’s quarterly estimates aren’t much to write home about.Goldman is bracing for an earnings report due out next week that will likely show a sharp drop in quarterly profits, according to Bloomberg News. Analysts told Bloomberg they have slashed their profit estimates for Goldman by almost half since the middle of last month. The figures will likely add to the angst and negative sentiment surrounding Goldman CEO David Solomon, whose management style and leadership have been called into question by partners in recent months. The Post reported last month that Goldman partners have griped over skimpy bonuses as well as Solomon’s ill-fated foray into consumer banking. "This is likely the worst quarter since David Solomon became the CEO," Mike Mayo, a Wells Fargo & Co. analyst, told Bloomberg News. Related: Goldman Sachs: 2023-06-28 Ford to cut jobs in US, Canada Goldman Sachs: 2023-06-27 Goldman Sachs to ax 125 managing directors worldwide in latest layoffs Goldman Sachs: 2023-05-31 Goldman Sachs to chop 250 more workers after 'David's Demolition Day,' sources say Related: David Solomon: 2023-05-31 Goldman Sachs to chop 250 more workers after 'David's Demolition Day,' sources say David Solomon: 2023-01-04 Tech industry has been laying off workers at fastest pace since the pandemic - with more than 150,000 jobs being cut in 2022 as companies like Meta and Amazon rein in costs David Solomon: 2022-12-30 Goldman Sachs CEO David Solomon - More Job Cuts Coming Related: Wells Fargo: 2022-12-08 Elizabeth Holmes' one-time boyfriend and Theranos COO Sunny Balwani is sentenced to nearly 13 years in prison for fraud and conspiracy Wells Fargo: 2022-12-07 Project Cedar: Inside the Plot to Destroy the U.S. Dollar Wells Fargo: 2022-10-20 19-State Coalition Launching an Investigation into Six Major Banks Over Ties to UN Net-Zero Banking Alliance Posted by: Fred 2023-07-13 |
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