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Morgan Stanley misses analysts’ profit expectations on worse-than-expected investment banking
Published Thu, Jul 14 2022 7:03 AM EDT
Updated Moments Ago
Morgan Stanley posted results on Thursday below analysts’ expectations for second quarter profit and revenue on weaker-than-expected investment banking revenue.
Here are the numbers:
Earnings of $1.39 per share vs $1.53 of estimate of analysts surveyed by Refinitiv
Revenue of $13.13 billion vs $13.48 billion estimate
Profit dropped 29% from a year earlier to $2.5 billion, or $1.39 per share, the New York-based bank said in a release. Revenue dipped 11% to $13.13 billion, driven by the steep 55% decline in investment banking revenue.
The results confirm what some analysts had feared for Morgan Stanley, which runs one of the larger equity capital markets operations on Wall Street. The firm’s investment banking division produced $1.07 billion in second-quarter revenue, $400 million below analysts’ $1.47 billion estimate that itself had been ratcheted down in recent weeks.........
https://www.cnbc.com/2022/07/14/morgan-s...ings-.html
Published Thu, Jul 14 2022 7:03 AM EDT
Updated Moments Ago
Morgan Stanley posted results on Thursday below analysts’ expectations for second quarter profit and revenue on weaker-than-expected investment banking revenue.
Here are the numbers:
Earnings of $1.39 per share vs $1.53 of estimate of analysts surveyed by Refinitiv
Revenue of $13.13 billion vs $13.48 billion estimate
Profit dropped 29% from a year earlier to $2.5 billion, or $1.39 per share, the New York-based bank said in a release. Revenue dipped 11% to $13.13 billion, driven by the steep 55% decline in investment banking revenue.
The results confirm what some analysts had feared for Morgan Stanley, which runs one of the larger equity capital markets operations on Wall Street. The firm’s investment banking division produced $1.07 billion in second-quarter revenue, $400 million below analysts’ $1.47 billion estimate that itself had been ratcheted down in recent weeks.........
https://www.cnbc.com/2022/07/14/morgan-s...ings-.html
