Morgan Stanley (MS) Q1 Earnings Beat as IB Business Rebounds [Yahoo! Finance]
Morgan Stanley (MS)
Last morgan stanley earnings: 4/16 07:15 am
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Source: Yahoo! Finance
The bottom line compared favorably with $1.70 per share reported in the prior-year quarter. Shares of the company gained more than 3.5% in the pre-market trading as better-than-expected results were largely driven by a rebound in investment banking (IB) business. Though advisory fees declined 28% year over year, underwriting fees witnessed solid improvement in the quarter. Specifically, equity underwriting income jumped 113% and fixed income underwriting income was up 37%. So, total IB fees (in the Institutional Securities division) grew 16% to $1.45 billion. We had projected it to be $1.26 billion. The company also posted a decent trading performance. Equity trading revenues increased 4% year over year, while fixed-income trading income declined 4%. A provision benefit was another tailwind for Morgan Stanley. However, despite a 30% increase in interest income, the company's net interest income (NII) declined due to higher interest expenses. Also, an increase in total non-in
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MS
Earnings
- 4/16/24 - Beat
MS
Sec Filings
- 4/29/24 - Form 424B2
- 4/29/24 - Form 424B2
- 4/29/24 - Form 424B2
- MS's page on the SEC website