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A display screen shows the buying and selling info for Morgan Stanley on the ground of the New York Inventory Change (NYSE), January 19, 2022.
Brendan McDermid | Reuters
Morgan Stanley reported first-quarter earnings earlier than the opening bell on Thursday. Here is how the numbers in contrast with Wall Road expectations:
- Earnings: $2.02 a share, versus $1.68 a share estimate, based on Refinitiv
- Income: $14.8 billion, versus $14.2 billion estimate, based on Refinitiv
Shares of the New York-based financial institution jumped greater than 2% in premarket buying and selling Thursday.
The financial institution noticed stronger-than-expected revenues from fairness and stuck revenue buying and selling amid risky markets and better accomplished M&A transactions.
Morgan Stanley’s fairness buying and selling income got here in at $3.2 billion, larger than an expectation of $2.7 billion, based on StreetAccount. Mounted revenue income totaled $2.9 billion for the quarter, topping estimate of $2.2 billion from StreetAccount.
Wall Road banks are grappling with a sudden slowdown in mergers-related advisory charges and a pointy drop in IPO exercise within the first quarter, a reversal of the increase that fueled final yr’s robust outcomes. The change was triggered by inventory market declines and Russia’s invasion of Ukraine, forces that made markets much less hospitable for offers and public listings.
The supply of the opposite half of Morgan Stanley’s income, the financial institution’s large wealth administration and funding administration divisions, might maintain up higher, however analysts nonetheless count on decrease inventory values to scale back income within the quarter.
— CNBC’s Hugh Son contributed reporting.
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