Morgan Stanley: beats consensus with M&A and IPO deals
(CercleFinance.com) - Morgan Stanley announced on Tuesday that it had posted better-than-expected Q2 earnings, particularly boosted by renewed activity in mergers & acquisitions (M&A) and initial public offerings (IPOs).
This morning, the US investment bank reported a 44% increase in net income, group share, to $2.9bn, or $1.82 per share, compared with $2bn ($1.24 per share) a year earlier. NB: pmt -2.7%.
By way of comparison, analysts were expecting lower EPS of $1.65.
Net banking income rose by 12% to over $15bn, boosted mainly by a 51% jump in income from its investment banking division.
The New York-based firm, which says it benefited from a better capital markets environment, says that it participated in more M&A transactions, private placements, IPOs and convertible bond offerings.
Income from equity trading was up 18% y-o-y, mainly driven by Asia, while income from fixed-income assets (fixed-income and foreign exchange) rose 16%, thanks to buoyant currency markets.
The group also announced plans to raise its quarterly dividend by 7.5 cents to $0.925.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
This morning, the US investment bank reported a 44% increase in net income, group share, to $2.9bn, or $1.82 per share, compared with $2bn ($1.24 per share) a year earlier. NB: pmt -2.7%.
By way of comparison, analysts were expecting lower EPS of $1.65.
Net banking income rose by 12% to over $15bn, boosted mainly by a 51% jump in income from its investment banking division.
The New York-based firm, which says it benefited from a better capital markets environment, says that it participated in more M&A transactions, private placements, IPOs and convertible bond offerings.
Income from equity trading was up 18% y-o-y, mainly driven by Asia, while income from fixed-income assets (fixed-income and foreign exchange) rose 16%, thanks to buoyant currency markets.
The group also announced plans to raise its quarterly dividend by 7.5 cents to $0.925.
Copyright (c) 2024 CercleFinance.com. All rights reserved.