Morgan Stanley (MS) Revenues Q3 2021

Morgan Stanley On Thursday, the company outperformed its third-quarter earnings and earnings expectations as it achieved record results in investment banking and wealth management.

The numbers are:

  • Revenue: $ 1.98 per share vs. $ 1.68 per share of analysts surveyed by Refinitiv
  • Revenue: Estimated $ 14.75 billion vs. $ 14 billion

Revenue and net income surged more than 25% from a year ago with the acquisition of E-Trade and Eaton Vance by CEO James Gorman. This has expanded the asset management department of the company. Bank stocks rose 1.5%.

“We have achieved another very strong quarter with strong earnings and improved efficiency,” Gorman said in a release. “We have achieved outstanding performance at Integrated Investment Banking and recorded a net new asset of $ 135 billion in wealth management.”

While rival banks are reporting slow down Morgan Stanley’s strength in third-quarter fixed income trading revenue has traditionally been in the world’s largest equity franchise.

Equity trading revenue was $ 2.88 billion, up 24% year-on-year, more than $ 500 million above Street Account’s estimate. Fixed income income fell 16% to $ 1.64 billion, above the $ 1.53 billion estimate.

Another area of ​​prosperity is investment banking, driven by strong mergers and IPO activities, where Morgan Stanley is also a top player.Rival advisor JP Morgan Chase Recorded investment banking fees in the third quarter.

Morgan Stanley’s investment banking franchise, backed by strong merger advisory fees, saw revenues grow 67% to a record $ 2.85 billion, more than $ 600 million above Street Account’s estimates.

In the company’s large wealth management division, revenue increased 28% to $ 5.94 billion. This increase was driven by record asset management income of $ 3.63 billion, thanks to higher equity values ​​and higher fees from financial advisors. Indeed, revenue from Morgan Stanley’s wealth management division fell short of Street Account’s forecast of $ 6.18 billion.

Bank stocks rose 44% this year until Wednesday’s closing, outpacing the 36% rise in the KBW Bank Index.

JP Morgan exceeded expectations on Wednesday, supported by an unexpected increase of $ 1.5 billion due to bad debt losses. Bank of America Results posted on Thursday Beyond Analysts’ expectations were due to higher-than-expected bad debt losses and record advisory and asset management fees.

Become a smarter investor CNBC Pro..
Get stock selection, analyst phone calls, exclusive interviews, and access to CNBCTV.
Sign up and get started Free trial today..

Morgan Stanley (MS) Revenues Q3 2021

Source link Morgan Stanley (MS) Revenues Q3 2021

Back to top button