Earnings

Morgan Stanley (MS) earnings 2Q 2023

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CEO of Morgan Stanley James Gorman speaks in New York, May 6, 2014.

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Morgan Stanley on Tuesday posted second-quarter earnings and revenue that topped analysts’ expectations, helped by record wealth management results.

Here’s what the company reported:

  • Earnings: $1.24 a share vs $1.15 per share Refinitiv estimate
  • Revenue: $13.46 billion vs. expected $13.08 billion

The bank said profit declined 13% to $2.18 billion, or $1.24 a share, on lower trading results from a year ago and a round of layoffs that triggered $308 million in severance costs. Revenue climbed 2% to $13.46 billion.

Morgan Stanley shares rose more than 6%.

Under CEO James Gorman, Morgan Stanley’s reliance on wealth…



Source cnbc.com

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