Morgan Stanley's profit beat expectations as wealth management revenue climbed in the first quarter, offsetting slumps in investment banking and trading revenue.
, in reporting profits that beat earnings forecasts in the first quarter. The lenders raked more income thanks to higher interest rates and stayed resilient despite the industry tumult.
Investment banking revenue was better than expected, but still low, Oppenheimer analyst Chris Kotowski wrote in a note to clients. Stock trading revenue sank 14% to $2.7 billion as equity markets fell, while fixed income revenue declined 12% to $2.5 billion.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Morgan Stanley profit beats as wealth business cushions deals slumpMorgan Stanley's first-quarter profit beat expectations as rising revenue from its wealth management division offset declines in its investment banking and trading units.
Read more »
Morgan Stanley beats estimates with wealth business growth, but shares fallMorgan Stanley's profit beat expectations as wealth management revenue climbed in the first quarter, offsetting slumps in investment banking and trading.
Read more »
Stocks are in danger with Fed pause already priced in: Morgan StanleyStocks are entering a danger zone as they're already pricing in a Fed pause, top Morgan Stanley strategist says
Read more »
U.S. futures soft as traders eye results from Morgan Stanley, Tesla and IBMHigher Treasury yields following news of stronger U.K. inflation weigh on sentiment.
Read more »
Morgan Stanley tops analysts’ expectations on better-than-expected trading resultsMorgan Stanley gets most of its revenue from wealth and investment management, steadier businesses that helped offset volatile trading and advisory results.
Read more »
Morgan Stanley stock falls despite earnings beatMorgan Stanley stock fell 1.9% in premarket trades Wednesday after the investment bank reported lower net income and revenue that beat consensus estimates....
Read more »