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published in Blogs
Apr 14, 2022
Morgan Stanley (MS, $84.76) beats Q1 earnings expectations

Morgan Stanley (MS, $84.76) beats Q1 earnings expectations

Morgan Stanley posted first quarter earnings that surpassed analysts’ expectations.

The bank’s earnings came in $2.02 per share in the quarter, well above the $1.68 expected by analysts polled by Refinitiv.

Revenue of $14.8 billion also surpassed the $14.2 billion expected.

Revenue at Morgan Stanley’s equity trading desk was $3.2 billion for the quarter, higher than an expectation of $2.7 billion, according to StreetAccount. Fixed-income revenue of $2.9 billion exceeded expectations of  $2.2 billion from StreetAccount.

The company’s wealth management revenue came in at $5.9 billion, flattish year-over-year, and lower than the $6.2 billion expected by analysts polled by StreetAccount.

Investment banking revenue was $1.6 billion, - 37% lower from the year-ago quarter, and also from lower than the $1.8 billion estimate according to StreetAccount. A significant decrease in equity underwriting revenues led to the disappointing figure, the bank indicated.

Related Tickers: MS