Goldman Sachs has reportedly warned Wall Street about its tanking profits

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.

“There’s probably half a dozen items this quarter that fall into the weak, bad or ugly category.”

Goldman has let it be known that its trading revenue is down by 25% over the past six week, according to Bloomberg.

The bank has also indicated it expects to take a loss on the sale of its Greensky e-banking division.

Analysts told Bloomberg they anticipate Goldman will report a net income of $1.5 billion in the second quarter — a 48% decrease from the same period last year.

The 48% decline dwarfs the estimated 19% decline at Morgan Stanley, though Bank of America and JPMorgan Chase are likely to report increases.

Goldman’s sagging profits have prompted the bank to cut costs. Last month, the bank confirmed it was letting go 125 managing directors.

In September, Goldman handed pink slips to 1% to 5% of mid-level investment bankers in the US, London and China offices.

In January, Goldman announced it was laying off 3,200 people.

The layoffs have fueled rank-and-file resentment toward Solomon, who heads a workforce of 40,000 employees.

Since Solomon took the helm in 2018, Goldman’s stock has soared more than 50%.

However, the bank’s $12.2 billion in net revenues in Q1 of 2023 was a slump from the same time period in years prior.

Last year, the bank reported $12.9 billion in profits in Q1, and in 2021, that figure was a massive $17.7 billion.

The Post has sought comment from Goldman Sachs.