Wall Street’s largest banks are expected to report close to $19 billion in combined equities trading revenue for the third quarter when they release earnings next week, according to the Odaily news brief. Analyst estimates compiled as of the New York market close on Thursday point to Goldman Sachs leading the group with projected equities trading revenue of $5.1 billion. Morgan Stanley is expected to follow at $4.9 billion, with JPMorgan projected at $4.5 billion and Bank of America at $2.6 billion.
The report said the gap in performance between banks is starting to widen as activity in capital markets cools. That marks a contrast with the first half of the year, when the five largest U.S. banks broadly benefited from a trading boom and both equities and fixed-income desks stayed busy. Goldman Sachs is scheduled to release earnings next Tuesday.
Wall Street’s largest banks are expected to disclose combined third-quarter equities trading revenue of nearly $19 billion when they report earnings next week, according to Odaily.
As activity in capital markets starts to cool, the performance gap between banks is becoming more visible, with some firms beginning to outperform rivals by a clearer margin. That differs from the first half of the year, when the five biggest U.S. banks broadly benefited from a trading boom and both equities and fixed-income trading desks remained busy.
Analyst estimates for major banks
Analyst forecasts compiled as of the New York market close on Thursday show Goldman Sachs, which is due to report earnings next Tuesday, is expected to lead the major banks with $5.1 billion in third-quarter equities trading revenue.
Morgan Stanley is projected to follow with $4.9 billion in equities trading revenue. JPMorgan is expected to post $4.5 billion, while Bank of America’s equities trading division is forecast to generate $2.6 billion.
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