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Numerous main banks and monetary establishments are set to report their second quarter 2023 earnings outcomes by way of the top of this week and the beginning of subsequent. The macroeconomic surroundings stays powerful and whereas increased rates of interest have confirmed useful, the potential of increased provisions for credit score losses is a trigger for concern. Right here’s a have a look at what to anticipate when these banking giants report outcomes:
JPMorgan
JPMorgan Chase & Co. (NYSE: JPM) is scheduled to report its second quarter 2023 earnings outcomes on Friday, July 14, earlier than market open. Analysts are projecting revenues of $38.8 billion for Q2 which might characterize a progress of round 23% from the identical interval a 12 months in the past. The consensus estimate for EPS is $4 which compares to EPS of $2.76 reported within the prior-year quarter.
Citigroup
Citigroup (NYSE: C) is slated to report its Q2 2023 earnings outcomes on July 14. Analysts anticipate earnings of $1.36 per share on revenues of $19.5 billion. This compares to earnings of $2.19 per share on revenues of $19.6 billion reported within the prior-year interval.
Wells Fargo
Wells Fargo & Firm (NYSE: WFC) will report its second quarter 2023 outcomes on July 14. Analysts are projecting revenues of $20 billion which can characterize a year-over-year progress of round 18%. EPS is estimated to be $1.17 which compares to $0.74 reported within the year-ago quarter.
Financial institution of America
Financial institution of America Company (NYSE: BAC) is scheduled to report its second quarter 2023 earnings outcomes on Tuesday, July 18. Analysts are projecting income of $25.1 billion which might characterize a ten% progress versus the identical interval a 12 months in the past. The consensus estimate for EPS is $0.84, which might mirror a 15% progress from the prior-year quarter.
Morgan Stanley
Morgan Stanley (NYSE: MS) is slated to report Q2 2023 earnings outcomes on July 18 as effectively. Analysts anticipate earnings of $1.28 per share on income of $13.3 billion. This compares to earnings of $1.39 per share on income of $13.1 billion.
Goldman Sachs
Goldman Sachs (NYSE: GS) is ready to report second quarter 2023 earnings outcomes on Wednesday, July 19. Analysts anticipate revenues to be $11.2 billion, which might characterize a decline of over 5% from the identical interval a 12 months in the past. EPS is estimated to be $3.11 in comparison with $7.73 reported within the prior-year quarter.
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