Morgan Stanley’s earnings exceed estimates


Morgan Stanley shares rose more than 2% after profits and revenues exceeded estimates on strong trading and wealth management results.
On Wednesday, Morgan Stanley announced a 57% increase in fourth-quarter profit. The Wall Street-listed bank’s activity benefited during trading from fluctuations in the money markets caused by the Coronavirus.
Net income attributable to common shareholders increased to $ 3.27 billion, or $ 1.81 per share, in the quarter ended December 31, compared with $ 2.09 billion, or $ 1.3 per share, a year earlier.
According to data from Refinitiv IPS, analysts were expecting a profit of $ 1.27 per share. (Reuters)


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