Morgan Stanley (MS) Tops Q3 EPS Views
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Morgan Stanley (NYSE: MS) reported Q3 EPS of $0.81, versus the analyst estimate of $0.63. Revenue for the quarter came in at $8.91 billion versus the consensus estimate of $8.17 billion.
- Institutional Securities net revenues were $4.6 billion reflecting strong performance across our sales and trading franchise, continued strength in M&A advisory and subdued underwriting.
- Wealth Management net revenues were $3.9 billion and pre-tax margin was 23%.3 Fee-based asset flows for the quarter were $13.5 billion.
- Investment Management reported net revenues of $552 million with assets under management or supervision of $417 billion.
James P. Gorman, Chairman and Chief Executive Officer, said, “This quarter we saw record revenues in Wealth Management and a strong performance in our Sales and Trading business. While the environment was more challenging for our equity underwriting and asset management businesses, our expense initiatives remain on track. Overall the results reflect steady progress against our long term strategic goals.”
For earnings history and earnings-related data on Morgan Stanley (MS) click here.
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