Banking giant Morgan Stanley (NYSE: MS) on Wednesday reported financial results for the third quarter of 2023.
Net income applicable to shareholders was $2.4 billion or $1.38 per share in the third quarter of 2023, compared to $2.63 billion or $1.47 per share in the same period a year ago.
The bank’s revenues increased to $13.27 billion in Q3 from $12.9 billion in the corresponding period of 2022. It delivered ROTCE of 13.5%.
James Gorman, chief executive officer of Morgan Stanley, said, “We completed the integration of E*TRADE in the quarter, further executing on our strategy of building revenue synergies across channels and attracting clients to our best-in-class advice offering. Our ability to gather assets, together with our strong capital position and leading client franchises, position us to deliver continued growth and strong shareholder returns going forward.”
