Morgan Stanley just dropped its first-quarter earnings, confirming once again that investment banking is still in the doldrums for Wall Street powerhouses. Profit fell 19% from one year ago, to $2.98 billion.
Morgan Stanley just dropped its first-quarter earnings, confirming once again that investment banking is still in the doldrums for Wall Street powerhouses.
Profit fell 19% from one year ago, to $2.98 billion. That amounted to $1.70 per share, beating analyst expectations. Revenue was $14.52 billion, down 2% from a year ago, but beating the $13.97 billion expected by analysts polled by FactSet.Trading revenue fell 13%. The bank got some help from its wealth-management business, where revenue rose 11%. The unit accounted for about 45% of total company revenue in the quarter.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morgan Stanley warns stock market is still 'far from out of the woods'Morgan Stanley strategist Michael Wilson warned in a Monday note that stock-market investors should prepare for 'more negative surprises' in coming months.
Read more »
Stocks are in danger with Fed pause already priced in: Morgan StanleyStocks are entering a danger zone as they're already pricing in a Fed pause, top Morgan Stanley strategist says
Read more »
U.S. futures soft as traders eye results from Morgan Stanley, Tesla and IBMHigher Treasury yields following news of stronger U.K. inflation weigh on sentiment.
Read more »
Morgan Stanley tops analysts’ expectations on better-than-expected trading resultsMorgan Stanley gets most of its revenue from wealth and investment management, steadier businesses that helped offset volatile trading and advisory results.
Read more »
Morgan Stanley stock falls despite earnings beatMorgan Stanley stock fell 1.9% in premarket trades Wednesday after the investment bank reported lower net income and revenue that beat consensus estimates....
Read more »
Updated Stanley Cup odds and NHL first-round playoff series pricesSee the latest 2023 Stanley Cup odds plus first-round playoff series prices and picks for Lightning vs. Leafs, Rangers vs. Devils, Kings vs. Oilers.
Read more »