Ted Choose, co-president of Morgan Stanley, speaks throughout a Bloomberg Tv interview in New York, US, on Thursday, Oct. 26, 2023.
Jeenah Moon | Bloomberg | Getty Pictures
Morgan Stanley reported second-quarter earnings earlier than the opening bell Tuesday.
Here is what the corporate reported in contrast with what Wall Road analysts surveyed by LSEG had been anticipating:
- Earnings: $1.82 a share, vs. $1.65 a share anticipated
- Income: $15.02 billion, vs. $14.3 billion anticipated
Morgan Stanley is more likely to profit from its Wall Road-centric enterprise mannequin.
The financial institution’s large wealth administration enterprise will probably be helped by excessive inventory market values, which inflates the administration charges the financial institution collects.
On high of that, funding banking exercise has picked up after a dismal 2023, which ought to present a tailwind to the financial institution.
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 Road exercise.
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