Ted Pick, CEO Morgan Stanley, talking on CNBC’s Squawk Box on the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024.
Adam Galici | CNBC
Morgan Stanley reported first-quarter earnings earlier than the opening bell Tuesday.
Here’s what the corporate reported in contrast with what Wall Street analysts surveyed by LSEG have been anticipating:
- Earnings: $2.02 a share, vs. anticipated $1.66
- Revenue: $15.14 billion, vs. anticipated $14.41 billion
How did Morgan Stanley CEO Ted Pick do in his first quarter main the corporate?
Pick’s tenure has kicked off on a rocky notice, as excessive rates of interest have incentivized the financial institution’s wealth administration prospects to maneuver money into higher-yielding securities.
But if its rivals are any indication, Morgan Stanley might be helped by sturdy funding banking and buying and selling leads to the quarter.
Last week, JPMorgan Chase, Wells Fargo and Citigroup every topped expectations for income and revenue, a streak continued by Goldman Sachs on Monday. Bank of America reported its quarterly outcomes earlier Tuesday.
Analysts are prone to query Pick about reviews that a number of U.S. regulators are investigating Morgan Stanley for potential shortfalls in the way it screens purchasers for its wealth administration division.
This story is creating. Please test again for updates.
https://www.cnbc.com/2024/04/16/morgan-stanley-ms-earnings-q1-2024.html
