Morgan Stanley (MS) 2Q 2022 earnings miss


Morgan Stanley posted second-quarter results Thursday that were below analysts’ expectations, hurt by weaker-than-expected investment banking revenue.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.39 vs. $1.53 expected
  • Revenue: $13.13 billion vs. $13.48 billion expected

Profit dropped 29% to $2.5 billion, or $1.39 per share from $3.51 billion, or $1.85 per share, a year ago, the New York-based bank said in a release. Revenue fell 11% to $13.13 billion from $14.8 billion, driven by the steep 55% decline in investment banking revenue.

The results confirm what some analysts had feared for Morgan…

Source cnbc.com

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