On Thursday, it announced that third-quarter net income increased from $ 2.7 billion ($ 1.66 per share) in the year-ago quarter to $ 3.7 billion ($ 1.98 per share). Revenues increased from $ 11.7 billion a year ago to $ 14.8 billion. Analysts expected investment banks to earn $ 1.69 per share with $ 13.93 billion in revenue. James P. Gorman, Chairman and Chief Executive Officer, said Morgan Stanley “achieved another very strong quarter with strong earnings and improved efficiency,” said ROTCE. ) Profit margin is 20%, achieving its “performance” at its “outstanding investment bank” and recording net new assets of $ 135 billion at wealth management. The company’s investment banking revenue increased approximately 68% from $ 1.7 billion to $ 2.85 billion. Morgan Stanley shares rose 1.8% in pre-market transactions. This year’s share price is up 43.8%, compared to the 16.2% increase from the S & P 500.
Morgan Stanley will increase profits by $ 1 billion as investment banking earnings surge.
Source link Morgan Stanley will increase profits by $ 1 billion as investment banking earnings surge.