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published in Blogs
Oct 17, 2022
Morgan Stanley (MS, $75.52) misses Q3 expectations

Morgan Stanley (MS, $75.52) misses Q3 expectations

Morgan Stanley posted its quarterly diluted earnings of $1.47 per share, missing the $1.52 a share expected by analysts polled by FactSet.  Revenues of $12.99 billion for the quarter ended September, vs. analysts' expectations of $13.29 billion (based on FactSet poll) . Revenues were $14.75 billion a year ago.

The financial firm’s net interest income climbed +49% year-over-year to $2 billion, while investment banking revenue plunged  -55% to $1.277 billion.

Revenue from Equity trading slipped -14% to $2.46 billion, while fixed-income trading revenue was up +33% to $2.18 billion.

"Firm performance was resilient and balanced in an uncertain and difficult environment, delivering a 15% return on tangible common equity," CEO James Gorman mentioned in a statement. "While Investment Banking and Investment Management were impacted by the market environment, Fixed Income and Equity navigated challenging markets well."

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