Earnings season: POST forecast for Bank of America and Goldman SachsStaff Writer | April 18, 2017
Two big banks are starting this earnings season and results will show what to expect from other big companies.
Earnings season Finance
Bank of America has a large lending business and it should benefit from it if interest rates continue to rise.
The company is in the same position as its rivals with strong trading profits.
But, loan growth was weak, after the Federal Reserve (fed) raised interest rates in December. POST forecast is EPS $0.35 and revenue $21.58 billion.
Goldman Sachs has the highest revenue concentration to the capital markets against its banking peers.
Fixed income, currency and commodity (FICC) and equity trading makes up about 40% of Goldman Sachs and it could easily top forecast.
Many banking sectors rallied since the November U.S. elections in expectations of tax reform, deregulation, and rising interest rates. POST forecast is EPS $5.38 and revenue $8.37 billion. ■