Morgan Stanley earnings fall 10% but beat lowered Wall Street expectations

📆 18/10/2023 7:05 a. m.
📰 MarketWatch

⏱ Reading Time:
23 sec. here
2 min. at publisher
📊 Quality Score:
News: 12%
Publisher: 97%

Colombia Noticias Noticias

Colombia Últimas Noticias,Colombia Titulares

Trading revenue rises 10%, but investment banking remains weak amid a dearth of deals

Morgan Stanley on Wednesday said its third-quarter profit fell 10% amid weakness in its investment banking business, but its trading and asset management revenue rose.

Morgan Stanley’s stock fell 4.4% in the third quarter in a choppy period for bank stocks overall. The stock is down just under 10% in the past month, compared with 1.9% drop by the S&P 500 SPX.Asset management revenue increased by 6% to $5.03 billion, while investment banking revenue dropped 24% to $1.05 billion.

During the past month, 11 analysts cut their profit estimates for Morgan Stanley and only one increased their view.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

Escribir Comentario

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Morgan Stanley Profit Tops Wall Street Expectations Amid 'Mixed' Market EnvironmentThird-quarter profit at the investment bank slides 8% to $2.4 billion.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »