Morgan Stanley (MS) Just Topped Expectations
Author By Sophia VidaPosted on Shares of Morgan Stanley climbed higher on Wednesday after the company beat analyst’s expectations for Q2.
The company reported earnings per share of 75 cents and revenue of $8.9 billion while the street was expecting earnings per share of 59 cents on $8.3 billion in revenue.
Comparing this to the period a year ago, Morgan Stanley reported 79 cents a share in earnings on $9.74 billion in revenue.
“Our results this quarter reflect solid performance in an improved but still fragile environment,” CEO James Gorman said in a statement. “In the midst of market uncertainty, we maintained our leadership positions across our core franchises and continued our focus on prudent risk management and judicious expense control.”
The company said its fixed income division posted $1.3 billion in revenue, its wealth management division added $3.8 billion in revenue and its investment banking team generated $1.1 billion in revenue.
Disclaimer: We have no position in Morgan Stanley (NYSE: MS) and have not been compensated for this article.
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