Morgan Stanley Q3 Earnings: Investment Banking Revenue Falls, Provision For Losses Rise
Portfolio Pulse from Vandana Singh
Morgan Stanley reported Q3 net profit of $2.4 billion, down from $2.6 billion in the prior year. Revenues were $13.27 billion, beating consensus of $12.58 billion. Wealth management division revenue was up 5% at $6.4 billion, while investment banking revenue fell 27% to $938 million due to fewer M&A transactions. Investment Management net revenues increased on higher asset management revenues and AUM of $1.4 trillion. MS shares are down 5.76% at $75.70.
October 18, 2023 | 1:50 pm
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Morgan Stanley's Q3 earnings report shows a decrease in net profit and a significant drop in investment banking revenue. However, it beat revenue expectations and saw an increase in wealth management and investment management revenues. The stock price fell 5.76%.
Morgan Stanley's Q3 earnings report shows a mixed picture. While the company beat revenue expectations and saw an increase in wealth management and investment management revenues, it also reported a decrease in net profit and a significant drop in investment banking revenue. This mixed report, along with the general market conditions, likely contributed to the drop in the stock price.
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