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Morgan Stanley’s Earnings Fall 9% on Lower Investment-Banking Revenue

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Fees from advising corporate clients on mergers and acquisitions fell by more than 30%

Morgan Stanley said third-quarter profit fell 9% from a year ago, hit by a sharp decline in deal making.

Investment-banking revenue dropped 27% to $938 million. . So did revenue from underwriting bond offerings. The bank did post an increase in equity underwriting.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

 

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