Goldman CEO Says Third-Quarter FICC Division Is 'Somewhat Softer'

EarningsAnalystMacro

โดย ロイター·

Summary · why it matters

Goldman Sachs CEO David Solomon said on the 16th that, regarding the outlook for third-quarter results, the securities division remains very strong on a relative basis, while the fixed income, currencies and commodities division is relatively somewhat softer, though September still has several weeks left. He spoke at Barclays' global financial services conference. On the 16th, Goldman's share price fell just under 4% from the previous day, underperforming further as bank stocks broadly weakened following the Federal Reserve's decision to raise interest rates. FICC division net revenue had surged 32% year-on-year in the second quarter after falling 10% in the first quarter. Morningstar Research analyst Sean Dunlop said he was not particularly surprised, noting that he had assumed third-quarter investment banking revenue would fall 12% and FICC revenue would also fall 11%, and that the 'somewhat weak' view might actually be more constructive than his firm's forecast. According to U.S. research firm Dealogic, as of the 15th of this month, global investment banking revenue for the third quarter stood at 21.194 billion dollars, down from 23.765 billion dollars a year earlier.