Ted Pick, CEO Morgan Stanley, speaking connected CNBC's Squawk Box astatine the World Economic Forum Annual Meeting successful Davos, Switzerland connected Jan. 18th, 2024.
Adam Galici | CNBC
Morgan Stanley reported third-quarter net earlier the opening doorbell Wednesday.
Here's what the institution reported compared with what Wall Street analysts surveyed by LSEG were expecting:
- Earnings:$1.88 a share, vs $1.58 estimation
- Revenue: $15.38 billion, vs. $14.41 cardinal estimation
Morgan Stanley has respective tailwinds successful its favor.
The bank's monolithic wealthiness absorption concern volition beryllium helped by precocious banal marketplace values successful the quarter, which inflates the absorption fees the slope collects.
Investment banking has rebounded aft a dismal 2023, a inclination that whitethorn proceed arsenic easing rates volition promote much financing and merger activity.
Finally, its Wall Street rivals person posted better-than-expected trading results, making it improbable that the steadfast missed retired connected elevated activity.
JPMorgan Chase, Goldman Sachs and Citigroup topped expectations, helped by better-than-expected gross from trading oregon concern banking.
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