Categories AlphaGraphs, Earnings, Finance

Morgan Stanley (MS) exceeds Q3 expectations; stock gains

Morgan Stanley (NYSE: MS) beat third quarter 2019 earnings and revenue estimates sending its shares up about 4% in the before-market hours. The banking giant posted adjusted earnings of $1.21 per share and GAAP earnings of $1.27 per share in the September quarter. Revenue for the third quarter of 2019 rose 2% from the year-ago quarter to $10 billion.

Analysts had expected the company’s earnings to decrease year-over-year by 5% to $1.11 per share and revenue to decline by 2.4% to $9.63 billion for the recently ended quarter.

Check below Morgan Stanley’s Q3 2019 earnings infograph:

Morgan Stanley (MS) exceeds Q3 expectations; stock gains

Morgan Stanley’s strong results for the three months ended September 30, 2019, were helped by the growth across all business segments. Institutional Securities net revenues of $5 billion reflected strength across products and strong client engagement despite seasonality and volatile markets. Sales and Trading net revenues surged 10% to $3.46 billion from a year ago quarter. Wealth Management net revenues stayed flat at $4.4 billion.

Read: Charles Schwab (SCHW) outclasses Q3 earnings and revenue targets on strong client demand

“We delivered strong quarterly earnings despite the typical summer slowdown and volatile markets. Firmwide revenues were over $10 billion for the third consecutive quarter, and we produced an ROE within our target range,” said CEO James Gorman.

Among other banking firms that reported their earnings results this week, JPMorgan Chase (NYSE: JPM) and Citigroup (NYSE: C) topped Q3 estimates. Wells Fargo (NYSE: WFC) and Goldman Sachs (NYSE: GS) failed to meet Q3 earnings targets, while they beat revenue estimates.

Morgan Stanley stock had gained 8% since the beginning of this year, while it dropped 7% from this time last year.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

Earnings Preview: What to look for when Broadcom (AVGO) reports Q1 results

Broadcom, Inc. (NASDAQ: AVGO) will be releasing its first-quarter results next week. Over the years, the company constantly broadened its portfolio beyond semiconductors to areas like enterprise software solutions, a

Here’s a look at Lowe’s (LOW) expectations for the near term and ahead

Shares of Lowe’s Companies, Inc. (NYSE: LOW) were up over 1% on Friday. The stock has gained 19% over the past three months. The home improvement retailer saw sales and

TJX Companies (TJX) Q4 2024 profit jumps on strong revenue growth

The TJX Companies, Inc. (NYSE: TJX) has reported a double-digit increase in net income for the fourth quarter of 2024 when the fashion retailer's net sales grew 13%. Fourth-quarter sales

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top