Morgan Stanley Q2 Earnings: Higher Profits As Investment Banking Activity Rebounds, On Track To Reach $10T Client Assets
Portfolio Pulse from Vandana Singh
Morgan Stanley (NYSE:MS) reported strong Q2 earnings with EPS of $1.82, beating the consensus of $1.65. The bank's sales were $15.02 billion, up 11.6% year-over-year, driven by a rebound in trading and investment banking. Institutional Securities and Wealth Management both showed strong performance. Despite the positive results, MS shares were down 2.92% in premarket trading.
July 16, 2024 | 1:17 pm
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Morgan Stanley reported strong Q2 earnings with EPS of $1.82, beating the consensus of $1.65. Sales were $15.02 billion, up 11.6% year-over-year. The bank's Institutional Securities division saw a significant rebound, with net revenues of $6.98 billion. Despite the positive results, MS shares were down 2.92% in premarket trading.
Morgan Stanley's strong Q2 earnings, driven by a rebound in trading and investment banking, indicate positive performance. However, the premarket share price drop suggests market volatility or profit-taking. The overall impact is likely positive in the short term as the fundamentals are strong.
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IMPORTANCE 90
RELEVANCE 100