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Morgan Stanley announced its results for the third quarter on Tuesday morning. Here is how the bank behaved.
- Returned: $ 9.9 billion, up 7% and exceeding analysts' expectations of $ 9.6 billion
- Net revenue: $ 2.1 billion, up 19% from $ 1.8 billion expected
- Earnings per share: $ 1.17, exceeding expectations for $ 1.01
- Return on equity: 11.5% against 10.5% expected
Other key figures:
- Investment bank product amounted to $ 1.5 billion, up 15% from the same period last year, thanks to strong earnings from equities and fixed income. Mergers & Acquisitions notice decreased due to lower number of transactions completed.
- In sales and trading, income from bond trading increased 1%, while those of equities rose 7%.
- Wealth management reported revenues of $ 4.4 billion, up 4% from the same period last year.
"In the first half of the year, we achieved good results across the franchise," said James Gorman, Morgan Stanley CEO. "Despite the seasonal slowdown in the third quarter, we have announced solid growth in our revenue and our results demonstrating the stability of the franchise, since the beginning of the year we have generated ROE from 13% and a ROTCE of 15% We remain well positioned the rest of the year. "
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