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Morgan Stanley on Wednesday posted better-than-expected fourth-quarter profits on strong equities trading revenue and as the firm held the line on compensation costs.
Here are the numbers:
- Earnings: $2.01 a share vs. estimate $1.91 a share, according to Refinitiv.
- Revenue: $14.52 billion vs. estimate $14.6 billion
The bank said that earnings rose 9.2% from a year earlier to $3.7 billion, or $2.01 a share, topping the $1.91 estimate of analysts surveyed by Refinitiv. Companywide revenue rose 6.8% to $14.52 billion, just below the $14.6 billion estimate.
Unlike its rivals, which disclosed soaring compensation costs for Wall Street personnel in the quarter, Morgan Stanley kept a lid on expenses….
Source cnbc.com
