Morgan Stanley fattens profit by $1 billion as investment banking revenue jumps

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Morgan Stanley on Thursday said its third-quarter net income rose to $3.7 billion or $1.98 a share, from $2.7 billion, or $1.66 a share, in the year-ago period. Revenue increased to $14.8 billion from $11.7 billion a year ago.

Morgan Stanley MS, +0.81% on Thursday said its third-quarter net income rose to $3.7 billion or $1.98 a share, from $2.7 billion, or $1.66 a share, in the year-ago period. Revenue increased to $14.8 billion from $11.7 billion a year ago. Analysts expected the investment bank to earn $1.69 a share on revenue of $13.93 billion. Chairman and CEO James P.

Gorman said Morgan Stanley"delivered another very strong quarter, with robust revenues and improved efficiency" with a return on producing a return on average tangible common shareholders' equity of 20%, highlighted by its"standout performance" in its investment bank and record net new assets of $135 billion in wealth management. The firm's investment banking revenue rose about 68% to $2.85 billion from $1.7 billion. Shares of Morgan Stanley rose 1.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Banks the best imvestment last year. Long term prospects wuth interest rates rising... Damn they look good

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Blackstone Bets on Music Business With $1 Billion Hipgnosis DealBlackstone plans to invest $1 billion in acquiring music rights, betting on a nascent but exploding category that is benefiting from the rapid growth of online streaming i will just record the sounds :-/ ala_verga_wey LisaJackson022 you are a trader with so much ambitious goals towards his clients, a woman with love for others. You're honest when it comes to investment Thanks for changing my life financial i will be greedy if I don’t share this guys Contact LisaJackson022 for a success trade
Source: WSJ - 🏆 98. / 63 Read more »