Morgan Stanley tops expectations on wealth management, trading and investment banking results
Publishing timestamp: 2024-04-16 10:51:44
Summary
Morgan Stanley reported better-than-expected profit and revenue in the first quarter, with wealth management, trading, and investment banking all exceeding expectations. The bank's profit rose 14% to $3.41 billion, with revenue climbing 4% to $15.14 billion. Shares of the bank jumped more than 3%. Wealth management, equities trading, and investment banking all saw strong results, while investment management was the only division to underperform. CEO Ted Pick addressed reports of U.S. regulators investigating the bank's client screening processes, stating that they have been focused on improving these processes for years.
Sentiment: POSITIVE
Tickers: GS, WFC, MS, C, JPM, BAC,
Keywords: dividends, bank of america corp, breaking news: investing, breaking news: earnings, wall street, citigroup inc, investment strategy, jpmorgan drn, breaking news: markets, business news, morgan stanley, goldman sachs group inc, earnings, banks, business,
Source: https://www.cnbc.com/2024/04/16/morgan-stanley-ms-earnings-q1-2024.html