Morgan Stanley posted a huge first-quarter earnings beat on Wednesday morning.
ADVERTISEMENT
Morgan Stanley beats, posts record quarter (MS)
Morgan Stanley smashes first-quarter earnings.
ADVERTISEMENT
The bank reported adjusted earnings of $1.45 a share, a 45% increase from last year and well ahead of analyst expectations of $1.28 a share.
Here are the key numbers (emphasis added):
- Revenue:
- record.
- Adjusted net income:
- record
- Equities:
- record.
- Fixed income:
- Investment banking:
- Wealth Management:
- record
ADVERTISEMENT
"We delivered very strong results this quarter, with record revenues and net income — and an ROE above our target range," CEO James Gorman said.
Morgan Stanley is the last big bank to report first-quarter earnings. Goldman Sachs on Tuesday joined Bank of America Merrill Lynch, Citigroup, and JPMorgan in reporting first-quarter earnings that beat analyst expectations.
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
Trends in online casino gaming in New Zealand
10 African countries with the highest number of migrants
PHOTOS: Inside the hostel in Rwanda set to house migrants from the UK in July
10 African countries with the weakest governments
Zap unveils Africa's first non-custodial exchange
The future of healthcare on display: Day 1 of Medlab West Africa wraps up
Nigeria suspends a Chinese business over discrimination charges
10 African countries with the greatest soft power influence over the world in 2024