Morgan Stanley beats expectations as profit rises 19% during 3rd quarter

Home/News/Morgan Stanley beats expectations as profit rises 19% during 3rd quarter
  • Advertiser Disclosure

    You’re our first priority.
    Every time.

    We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free.

    So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.

  • Morgan Stanley beats expectations as profit rises 19% during 3rd quarter
    Morgan Stanley beats expectations as profit rises 19% during 3rd quarter

    Morgan Stanley CEO James Gorman.
    AP Images

    Morgan Stanley reported earnings on Tuesday morning, with its revenue and profit beating expectations. Morgan Stanley announced third-quarter earnings results Tuesday morning. Here’s how the bank fared. Revenue: $9.9 billion, up 7% and beating analyst expectations of $9.6 billion Net income: $2.1 billion, up 19% versus $1.8 billion expected Earnings per share: $1.17, beating expectations for $1.01 Return on equity: 11.5% versus 10.5% expected Other key numbers: Investment-banking revenue of $1.5 billion, rose 15% over the year-ago period on strong equity and fixed-income underwriting revenue. M&A advisory was down because of lower levels of completed deals. In sales and trading, revenue from bond trading was up 1%, while equity trading was up 7%. Wealth management saw revenue of $4.4 billion, up 4% from the year-ago period. “In the first half of the year, we produced strong results across the franchise,” Morgan Stanley CEO James Gorman said. “Despite the seasonal summer slowdown in the third quarter, we reported solid revenue and earnings growth demonstrating the stability of the franchise. Year to date, we have produced an ROE of 13% and ROTCE of 15%. We remain well positioned and optimistic for the remainder of the year.”

    More:

    Morgan Stanley
    Earnings

    Read More

    Go to Top