James Gorman, CEO of Morgan Stanley, will speak in an interview with Bloomberg Television on the third day of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, January 24, 2019.
Simon Dawson | Bloomberg | Getty Images
The numbers are:
Revenue: $ 1.98 vs. Analyst’s Estimate per Share is $ 1.68 Refinitive
Revenue: Estimated $ 14.75 billion vs. $ 14 billion
Here’s what Wall Street expected:
Revenue: $ 1.68 per share, 1.5% higher than last year, according to Refinitiv
Revenue: $ 14 billion, up 20% year-on-year
Wealth Management: $ 6.18 billion according to Street Account
Trading: Equity $ 2.32 billion, Bonds $ 1.53 billion
Investment Bank: $ 2.17 billion
Morgan Stanley is in a good position so far.
While rival banks have reported a slowdown in fixed income trading revenues in the third quarter, Morgan Stanley’s strength has traditionally been in the world’s largest equity franchise.
Another area of prosperity is investment banking, driven by strong mergers and IPO activities, where Morgan Stanley is also a top player. Rival advisor JPMorgan Chase posted record investment banking fees in the third quarter.
Finally, CEO James Gorman has made his bank a top money management player through a series of savvy acquisitions. These companies should benefit from the high quarterly stock prices.
Bank share rose 44% this year, outpacing the 36% rise in the KBW Bank Index.
JP Morgan exceeded expectations on Wednesday, supported by an unexpected increase of $ 1.5 billion due to bad debt losses.
This story is developing. Please check for updates.
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Morgan Stanley (MS) Revenues Q3 2021
Source link Morgan Stanley (MS) Revenues Q3 2021