Morgan Stanley's Fourth-Quarter Profit Jumps 46%
January 16 2020 - 7:58AM
Dow Jones News
By Liz Hoffman
Morgan Stanley 's fourth-quarter profit rose 46% from a year
ago, with gains spread evenly across its businesses.
The firm's profit of $2.2 billion, or $1.30 a share, on $10.9
billion in revenue, topped expectations of bank analysts polled by
FactSet, who had forecast earnings of $1.02 a share on $9.71
billion of revenue.
For the full year, revenue and profit both ticked up 3%.
Morgan Stanley is the last of the big U.S. banks to report
earnings for the fourth quarter, navigating a stretch that included
a Federal Reserve interest-rate cut and fierce global tensions.
Giants JPMorgan Chase & Co. and Citigroup Inc. sailed
through, while Goldman Sachs Group Inc. and Wells Fargo & Co.
both took big legal charges that dragged down profits.
Morgan Stanley's return on equity, a measure of profitability,
was 11.3% for the quarter, versus a range of 8.7% to 15% at
peers.
Write to Liz Hoffman at liz.hoffman@wsj.com
(END) Dow Jones Newswires
January 16, 2020 07:43 ET (12:43 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Sep 2023 to Sep 2024