Morgan Stanley co-president Ted Pick speaks in an interview with Bloomberg TV, Thursday, Oct. 26, 2023, in New York, USA.
Gina Moon | Bloomberg | Getty Images
Morgan Stanley The company released its second-quarter results before the market opened on Tuesday.
Here’s how the company’s report compares with forecasts from Wall Street analysts surveyed by LSEG:
Earnings: $1.82 per share (expected $1.65) Revenue: $15.02 billion (expected $14.3 billion)
Morgan Stanley is likely to benefit from its Wall Street-centric business model.
The bank’s large asset management business will be boosted by rising stock prices, which will increase the management fees the bank charges.
On top of that, investment banking is recovering after a weak 2023, which should be a boon for banks.
last week, JPMorgan Chase, Wells Fargo and Citigroup Both sales and profits exceeded expectations, and the momentum is Goldman Sachs on Monday, buoyed by a pick-up in activity on Wall Street.
This story is developing, please check back for updates.