Morgna Stanley posts strong revenue figures for third quarter
- 3 months ago
Morgan Stanley reported its strongest earnings quarter of the last decade as bond trading revenue surged, compensating for a fall in wealth management revenue.
Net income for the member of the “Big Six” came in at $2.17 billion, beating the $1.8 billion forecasted by analysts and a whole 3% better off than the third quarter during the previous year.
Revenues increased by 2% year-on year by $10 billion, beyond the expected figure of $9.6 billion by analysts, hence claiming revenues above $10 billion for the third quarter running.
Chairman and CEO, James Gorman said, “Our consistent performance shows the stability of our business model.”
“We remain committed to controlling our expenses and are well positioned to pursue our growth initiatives.”
Source: Smart Trend Team