Morgan Stanley: Q1 2021 earnings more than double
(CercleFinance.com) - Morgan Stanley has reported a 142% increase in net profit to 4.
12 billion dollars for the first quarter of 2021, meaning EPS of 2.19 dollars, with a return on tangible equity of 21.1%, up from 9.7% the previous year.
Revenues rose 61% to 15.7 billion dollars, with all three of its divisions - institutional securities, wealth management and investment management - contributing to growth.
"We closed the acquisition of Eaton Vance which takes Investment Management to over $1.4 trillion of assets. Wealth Management brought in record flows of $105 billion," said Chairman and Chief Executive Officer James Gorman.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
12 billion dollars for the first quarter of 2021, meaning EPS of 2.19 dollars, with a return on tangible equity of 21.1%, up from 9.7% the previous year.
Revenues rose 61% to 15.7 billion dollars, with all three of its divisions - institutional securities, wealth management and investment management - contributing to growth.
"We closed the acquisition of Eaton Vance which takes Investment Management to over $1.4 trillion of assets. Wealth Management brought in record flows of $105 billion," said Chairman and Chief Executive Officer James Gorman.
Copyright (c) 2021 CercleFinance.com. All rights reserved.