Earnings

Morgan Stanley (MS) Q4 2020 earnings beat estimates

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Morgan Stanley on Wednesday posted fourth-quarter profit and revenue that exceeded analysts’ expectations on strong trading, investment banking and wealth management results.

The firm reported a 51% increase in profit to $3.39 billion, or $1.81 per share. When excluding $189 million in integration costs tied to last year’s E-Trade acquisition, profit was $1.92 per share, compared with the $1.27 estimate of analysts surveyed by Refinitiv. Revenue of $13.64 billion was more than $2 billion beyond the $11.54 billion estimate.

“The firm produced a very strong quarter and record full-year results, with excellent performance across all three businesses and geographies,” CEO James Gorman said in…



Source cnbc.com

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