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Morgan Stanley is set to report first-quarter earnings – here’s what the Street expects
CEO of Morgan Stanley James Gorman speaks on May 6, 2014 in New York.Getty ImagesMorgan Stanley on Thursday posted first-quarter profit that missed analysts’ expectations, but the firm’s trading desks generated about $700 million more revenue than expected.The bank said in a release that earnings dropped 30% to $1.7 billion, or $1.01 a share, compared with the…
CEO of Morgan Stanley James Gorman speaks on May 6, 2014 in New York.
Getty Images
Morgan Stanley on Thursday posted first-quarter profit that missed analysts' expectations, but the firm's trading desks generated about $700 million more revenue than expected.
The bank said in a release that earnings dropped 30% to $1.7 billion, or $1.01 a share, compared with the $1.14 estimate of analysts surveyed by Refinitiv.
Earnings: $1.01 a share
Revenue: $9.49 billion
Wealth management: $4.04 billion
Trading: Equities $2.42 billion, Fixed Income $2.2 billion
Here's what Wall Street expected:
Earnings: $1.14 a share, 18% lower than a year earlier, according to Refinitiv
Revenue: $9.73 billion, 5.4% lower than a year earlier
Wealth management: $4.28 billion, according to FactSet
Trading: Equities $2.23 billion, fixed Income $1.71 billion
This story is developing. Please check back for updates.
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