Morgan Stanley’s (MS.US) shares rose nearly 2.0% in premarket as quarterly earnings beat market expectations partially thanks to record wealth management revenue, which overshadowed weak dealmaking figures.
-
On an adjusted basis, the bank earned $1.31 per diluted share, while profit applicable to the company's common shareholders in Q4 was $2.11 billion or $1.26 per diluted share. Refinitiv analysts expected profits of $1.19 per share.
-
Revenue of $12.75 billion also topped Wall Street projections of $12.64 billion, according to Refinitiv
-
Wealth management division recorded record net revenues of $6.63 billion in the latest quarter, which is a 6% increase compared to last year.
-
“We reported solid fourth quarter results amidst a difficult market environment,” Chairman and CEO James Gorman said in a statement. “Overall, 2022 was a strong year for the Firm as our clear strategy and balanced business model enabled us to deliver an ROTCE of 16% despite the complex macro backdrop.”
Highlights of Morgan Stanley Q4 2022 earnings report. Source: AlphaStreet
Morgan Stanley’s (MS.US) stock jumped in pre-market and is approaching the upper limit of the local 1:1 stricture. Should a break higher occur, the road towards major resistance at $110.15 will be left open. Source: xStation5
Quantum Computing after Earnings: Quantum Breakthough?
Alibaba sell-off extends amid White House national security concerns📌
US Earnings Season Summary 🗽What the Latest FactSet Data Shows
US Open: US100 initiates rebound attempt 🗽Micron shares near ATH📈