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Morgan Stanley (MS) earnings 3Q 2020

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James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, on Thursday, May 30, 2019.

Giulia Marchi | Bloomberg | Getty Images

Morgan Stanley posted third quarter profit of $2.7 billion, or $1.66 per share, exceeding the $1.28 estimate of analysts surveyed by Refinitiv. The firm generated revenue of $11.7 billion, 16% higher than a year earlier and a billion dollars more than the estimate.

Under Chief Executive Officer James Gorman, Morgan Stanley has emphasized its wealth management division, a far steadier business than its trading operations. Wealth management benefits from rising markets as fees typically…



Source cnbc.com

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