Morgan Stanley’s (MS) earnings from continuing operations were actually up 41% to $2.6 billion on a 32% rise in net revenue to $11.5 billion.
Underwriting, advisory service, and fixed income sales were up 39% to $7.4 billion, and that was the engine of the big financial firm’s growth. Pre-tax income in that group rose 55% to $3 billion. Wealth management, asset management and the Discover card businesses did fine, but could not match the pace of the company’s largest operating division.
It has to end some day as the private equity, hedge fund and equity markets continue to rocket upward. But, that day is not today.
Shares are up 2% in the pre-market to $89.60, just shy of the company’s 52-week high.
Douglas A. McIntyre
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.