Ted Decide, CEO Morgan Stanley, talking on CNBC’s Squawk Field on the World Financial Discussion board Annual Assembly in Davos, Switzerland on Jan. 18th, 2024.
Adam Galici | CNBC
Morgan Stanley on Thursday topped estimates for fourth quarter earnings and income because the agency’s equities and glued earnings merchants exceeded expectations.
Here is what the corporate reported:
- Earnings: $2.22 a share vs. $1.70 LSEG estimate
- Income: $16.22 billion, vs. $15.03 billion estimate
The financial institution stated that
The financial institution’s large wealth administration enterprise shall be helped by excessive inventory market values within the fourth quarter, which inflates the administration charges it collects.
Funding banking exercise continued to rebound final quarter, leaping 29% within the quarter, per Dealogic figures, fueled by rising advisory and fairness capital markets exercise. And buying and selling exercise was supported by an eventful election season.
On Wednesday, JPMorgan Chase, Goldman Sachs and Citigroup every topped expectations, helped by better-than-expected income from buying and selling or funding banking.
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