Morgan Stanley reported fourth-quarter earnings before the opening bell Thursday.
Here’s what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:
- Earnings: $2.22 a share, vs. $1.70 expected
- Revenue: $16.22 billion, vs. $15.03 billion expected
Morgan Stanley has several factors working in its favor.
The bank’s massive wealth management business will be helped by high stock market values in the fourth quarter, which inflates the management fees it collects.
Investment banking activity continued to rebound last quarter, jumping 29% in the quarter, per Dealogic figures, fueled by rising advisory and equity capital markets activity. And trading activity was supported by an eventful election season.
On Wednesday, JPMorgan Chase, Goldman Sachs and Citigroup each topped expectations, helped by better-than-expected revenue from trading or investment banking.
This story is developing. Please check back for updates.
