Morgan Stanley MS Q4 2022 earnings beat


A screen displays the trading information for Morgan Stanley on the floor of the New York Stock Exchange (NYSE), January 19, 2022.

Brendan McDermid | Reuters

Morgan Stanley reported fourth-quarter earnings on Tuesday that exceeded Wall Street expectations, boosted by the bank’s record wealth management revenue and growth at its trading business.

Shares of the firm climbed 5.8% Tuesday after the results.

In the fourth quarter, net income fell to $2.11 billion, or $1.26 per share, from $3.59 billion, or $2.01 per share, a year ago, but it topped an analyst estimate of $1.19 a share from Refinitiv.

Profit has been hurt by a slowdown in deal-making over the past year, prompting the New York-based…

Source cnbc.com

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