Morgan Stanley Profit Rises as Trading and Wealth Management Grow
The bank posted $4.91 billion in quarterly profit, with equity trading and wealth management among the sources of strength.
Key takeaways
- Morgan Stanley reported third-quarter net income of $4.91 billion and revenue of $20.34 billion.
- Equity trading revenue rose 41% to $5.8 billion.
- Wealth management revenue reached a record $9.07 billion.
Morgan Stanley reported third-quarter net income of $4.91 billion and revenue of $20.34 billion, as higher equity trading revenue lifted results. Earnings were $3.03 per share, above analysts’ expectations, according to Ekonomim.
Revenue rose from $18.22 billion in the same quarter a year earlier. Equity trading revenue climbed 41% to $5.8 billion, while revenue at the bank’s institutional securities division increased to $10.03 billion from $8.52 billion.
Wealth management posted record revenue of $9.07 billion, up from $8.23 billion a year earlier. The division also recorded $232.4 billion in net new client asset inflows during the quarter.
Investment banking revenue edged up to $2.16 billion from $2.11 billion. Advisory revenue rose to $887 million from $684 million, which Ekonomim linked to more completed mergers and acquisitions in the Americas.
Investment management revenue fell 12% to $1.46 billion. The bank said the decline was mainly due to the reversal of accrued performance fees tied to investments in one of its private funds.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
