Diamond Member Pelican Press 0 Posted July 16, 2024 Diamond Member Share Posted July 16, 2024 This is the hidden content, please Sign In or Sign Up Morgan Stanley (MS) earnings Q2 2024 Ted Pick, co-president of Morgan Stanley, speaks during a Bloomberg Television interview in New York, US, on Thursday, Oct. 26, 2023. Jeenah Moon | Bloomberg | Getty Images Morgan Stanley said second-quarter profit and revenue topped analysts’ estimates on stronger-than-expected trading and investment banking results. Here’s what the company reported: Earnings: $1.82 a share vs. $1.65 a share LSEG estimateRevenue: $15.02 billion, vs. $14.3 billion estimate The bank said profit surged 41% from the year-earlier ******* to $3.08 billion, or $1.82 per share, helped by a rebound in Wall Street activity. Revenue rose 12% to $15.02 billion. Morgan Stanley benefited from its Wall Street-centric business model in the quarter. Equity trading revenue jumped 18% to $3.02 billion, exceeding the StreetAccount estimate by about $330 million. Fixed income trading rose 16% to $1.99 billion, topping the estimate by $130 million. Investment banking banking revenues surged 51% to $1.62 billion, exceeding the estimate by $220 million, on a surge in fixed income underwriting revenue. Morgan Stanley said that was primarily driven by non-investment grade companies raising debt. “The firm delivered another strong quarter in an improving capital markets environment,” CEO Ted Pick said in the release. “We continue to ******** on our strategy and remain well positioned to deliver growth and long-term value for our shareholders.” Last week, JPMorgan Chase, Wells Fargo and Citigroup each topped expectations for revenue and profit, a streak continued by Goldman Sachs on Monday, helped by a rebound in Wall Street activity. This story is developing. Please check back for updates. This is the hidden content, please Sign In or Sign Up #Morgan #Stanley #earnings This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/67809-morgan-stanley-ms-earnings-q2-2024/ Share on other sites More sharing options...
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