LIVE: Goldman Sachs reports Q2 earnings

Goldman Sachs is expected to report second-quarter earnings at 7:30 ET Tuesday.

Analysts are expecting adjusted earnings per share of $3.08 on revenue of $7.55 billion, according to Bloomberg.

Total trading revenue is expected to come in at $3.67 billion, according to a Bloomberg survey of analysts, while investment banking revenue is expected to be $1.56 billion.

In the same quarter last year, Goldman reported earnings per share of $1.98 on revenue of $9.07 billion. Excluding legal fees, however, adjusted earnings per share were $4.75.

In the first quarter, Goldman whiffed, reporting diluted earnings per share of $2.68 on revenue of $6.34 billion.

"The operating environment this quarter presented a broad range of challenges, resulting in headwinds across virtually every one of our businesses," said CEO Lloyd Blankfein in a statement at the time.

The big story during the second quarter was the UK's decision in June to leave the European Union, which sent shockwaves through markets and could deter central banks from raising interest rates anytime soon.

In the short term, that could be good news for banks' trading revenues, but the long term impacts are less rosy. Bank profitability is largely based on the rate at which they make loans. Lower global interest rates, in turn, negatively affect bank bottom lines.

JPMorgan, Citi, Wells Fargo, and Bank of America Merrill Lynch have already reported second-quarter earnings. Morgan Stanley is set to report on Wednesday.