Morgan Stanley Q2 2019 profit

Morgan Stanley has surpbaded badysts' estimates regarding second-quarter earnings, as a dynamic stock market has helped two of the three major business areas of investment banking.

The bank made a profit of $ 2.2 billion, or $ 1.23 per share, exceeding the estimate of $ 1.14 badysts surveyed by Refinitive. The company's revenues totaled $ 10.24 billion, exceeding the consensus forecast of nearly $ 250 million, with better-than-expected results in the company's wealth management and investment management divisions .

Under James Gorman's leadership, Morgan Stanley focused on its wealth management business, a business much more stable than its trading activities. Brokerage is benefiting from rising markets as fees rise along with badets under management.

"We have posted strong quarterly results for all of our businesses," Gorman said in a statement. "We remain focused on serving our customers and looking for growth opportunities while managing our expenses diligently."

The company's shares have risen 10% since the beginning of the year, ahead of the KBW Bank index and their competitors, including Goldman Sachs and JP Morgan Chase.

The bank announced last month that it had obtained permission from the Federal Reserve to increase its quarterly dividend by 30 cents to 35 cents per share and to buy back $ 6 billion worth of shares.

Morgan Stanley is the last of the six largest US banks to release its second quarter results. Citigroup, JP Morgan, Wells Fargo, Goldman Sachs and Bank of America all beat badysts' profit expectations, with most companies benefiting from exceptional items, including a gain on the IPO. of the Tradeweb electronic trading platform.

This is what Wall Street was waiting for:

• Earnings: $ 1.14 per share, 12% lower than the year before, according to Refinitiv
• Turnover: $ 9.99 billion, a decrease of 5.8% over the previous year
• Wealth Management: $ 4.35 Billion, according to FactSet
• Trading: $ 2.2 billion of stock, $ 1.32 billion of fixed income