Morgan Stanley: quarterly profit slightly above estimates

(CercleFinance.com) - Morgan Stanley reported a slightly better-than-expected quarterly profit on Thursday, driven mainly by growth in its wealth management and investment management businesses.


Net income, group share reached 3.7 million dollars in Q4, or 2.01 dollars per share, compared with 3.4 billion dollars a year ago.

This performance was a cent above the consensus of exactly two dollars.

New York bank said its quarterly revenue rose to 14.5 billion dollars from 13.6 billion dollars a year earlier, including a 10% increase in wealth management to 6.3 billion dollars, representing a 22.6% profit margin.

Meanwhile, asset management revenue jumped 59% to 1.8 billion dollars, driven by acquisition of Eaton Vance, which it has now completed.



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