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published in Blogs
Jul 16, 2022
Morgan Stanley (MS, $77.52) misses Q2 earnings and revenue expectations

Morgan Stanley (MS, $77.52) misses Q2 earnings and revenue expectations

Morgan Stanley posted second quarter earnings and revenue that missed analysts’ expectations, amidst weakening of investment banking revenues.

The financial behemoth’s diluted earnings came in at $1.39 per shar, well below the $1.53 expected by analysts.

Revenue fell -11% from the year-ago quarter to $13.13 billion was also lower than analysts’ expectations of $13.48 billion (per Bloomberg analysts outlook).

The bank’s revenue from its Investment banking business plunged -55% to $1.07 billion on lower levels of completed M&A transactions. Wealth management revenue fell -6% to $5.7 billion.

Equity trading revenue, however, rose +5% to $2.96 billion, and fixed income trading revenue surged +49%year-over-year  to $2.5 billion.

Related Tickers: MS