Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Finance»Morgan Stanley (MS) earnings Q2 2024
Finance

Morgan Stanley (MS) earnings Q2 2024

July 17, 2024No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Morgan Stanley (MS) earnings Q2 2024
Share
Facebook Twitter LinkedIn Pinterest Email

Ted Decide, CEO Morgan Stanley, talking on CNBC’s Squawk Field on the World Financial Discussion board Annual Assembly in Davos, Switzerland on Jan. 18th, 2024.

Adam Galici | CNBC

Morgan Stanley stated second-quarter revenue and income topped analysts’ estimates on stronger-than-expected buying and selling and funding banking outcomes.

This is what the corporate reported:

  • Earnings: $1.82 a share vs. $1.65 a share LSEG estimate
  • Income: $15.02 billion vs. $14.3 billion estimate

The financial institution stated revenue surged 41% from the year-earlier interval to $3.08 billion, or $1.82 per share, helped by a rebound in Wall Avenue exercise. Income rose 12% to $15.02 billion.

Shares of the financial institution had declined earlier within the session after the financial institution’s wealth administration division missed estimates on a decline in curiosity earnings. They have been up lower than 1% on Tuesday.

Wealth administration income rose 2% to $6.79 billion, under the $6.88 billion estimate, and curiosity earnings plunged 17% from a yr earlier to $1.79 billion.

Morgan Stanley stated that is as a result of its wealthy shoppers have been persevering with to shift money into higher-yielding property, because of the speed setting, leading to decrease deposit ranges.

Morgan Stanley buyers worth the extra regular nature of the wealth administration enterprise versus the much less predictable nature of funding banking and buying and selling, and they’ll need to hear extra about expectations for the enterprise going ahead.

Nonetheless, the financial institution benefited from its Wall Avenue-centric enterprise mannequin within the quarter, as a rebound in buying and selling and funding banking helped the financial institution’s institutional securities division earn extra income than its wealth administration division, flipping the same old dynamic.

Fairness buying and selling generated an 18% bounce in income to $3.02 billion, exceeding the StreetAccount estimate by about $330 million. Fastened earnings buying and selling income rose 16% to $1.99 billion, topping the estimate by $130 million.

Funding banking income surged 51% to $1.62 billion, exceeding the estimate by $220 million, on rising fastened earnings underwriting exercise. Morgan Stanley stated that was primarily pushed by non-investment-grade corporations elevating debt.

“The agency delivered one other robust quarter in an bettering capital markets setting,” CEO Ted Decide stated within the launch. “We proceed to execute on our technique and stay properly positioned to ship development and long-term worth for our shareholders.”

Final week, JPMorgan Chase, Wells Fargo and Citigroup every topped expectations for income and revenue, a streak continued by Goldman Sachs on Monday, helped by a rebound in Wall Avenue exercise.

Morgan Stanley beats estimates on better-than-expected trading and investment banking

Source link

Earnings Morgan Stanley
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Kilroy reports lackluster earnings as West Coast tenants downsize

May 10, 2025

Paycom Makes Solid Progress

May 10, 2025

Tapestry lifts forecasts on booming demand for Coach handbags

May 10, 2025

US oil and gas rig count falls to lowest since January, Baker Hughes says

May 9, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Sumitomo of Japan buys 20% stake in YES Bank for around Rs 13,483 crore | Business News

May 10, 2025

Whoop unveils next-gen wearables Whoop 5.0, Whoop MG, with advanced health monitoring features | Technology News

May 10, 2025

Kilroy reports lackluster earnings as West Coast tenants downsize

May 10, 2025

Operation Sindoor: Army mobilises additional forces for border areas, calls up reserve forces | India News

May 10, 2025
Popular Post

Argentine women look to cast off shadow of Messi and Co

Luna Welcomes New Games For October While Stadia Says Farewell

Twitter bans ‘wishes of harm’ according to its new violent speech policy

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.