Breaking News
Get 40% Off 0
👀 Reveal Warren Buffet's stock picks that are beating the S&P 500 by +174.3% Get 40% Off

Morgan Stanley slips as wealth management revenue disappoints

Published Oct 18, 2023 07:54AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Morgan Stanley slips as wealth management revenue disappoints
 
MS
-0.21%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Morgan Stanley (NYSE:MS) reported third-quarter results that beat analyst estimates on top and bottom line, however, its shares fell 1.6% on weaker-than-expected wealth management revenue.

The company posted earnings per share of $1.38, which is $0.06 better than the estimated EPS of $1.32. In terms of revenue, the quarter generated $13.3 billion, slightly exceeding the consensus estimate of $13.25 billion.

However, wealth management net revenue came in at $6.4 billion, trailing the expected $6.58 billion. Moreover, the company's net interest income stood at $1.98 billion, slightly below the estimated $2.06 billion.

Equities sales & trading revenue was $2.51 billion while FICC (Fixed Income, Currencies, and Commodities) sales & trading revenue came in at $1.95 billion. Analysts were looking for $2.41 billion and $1.83 billion, respectively.

James P. Gorman, chairman and chief executive officer, said, “While the market environment remained mixed this quarter, the Firm delivered solid results with an ROTCE of 13.5%. Our Equity and Fixed Income businesses navigated markets well, and both Wealth and Investment Management produced higher revenues and profits year-over-year.”

“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.”

 
 
Morgan Stanley slips as wealth management revenue disappoints
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (3)
Andrey Sheykin
Andrey Sheykin Oct 18, 2023 11:59AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
poor wealth management leads to poor revenue
Takis Karalivanos
Takis Karalivanos Oct 18, 2023 10:38AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
These are the same guys predicting a full on recession for the past 24 months
Derick Lim
Derick Lim Oct 18, 2023 8:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
More like a flip back fall.....
Hamad Ali
Hamad Ali Oct 18, 2023 8:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email