Morgan Stanley’s Q1 revenue up 4% to $15.1B
April 16 2024 - 9:49AM
IH Market News
Morgan Stanley (NYSE:MS) reported on Tuesday that its revenue
for the first quarter amounted to $15.1 billion, rising by 4.1%
compared to the same period in 2023 and higher than expected. Net
income grew by 14.4% year-on-year to $3.4 billion, with the diluted
earnings per share up 18.8% annually to $2.02.
The bank said it repurchased $1 billion worth of shares in Q1
and that its board set a $0.85 quarterly dividend per share,
payable on May 15.
“As a result of strong net new asset growth, the Firm has
reached $7 trillion of client assets across Wealth and Investment
Management. Institutional Securities also saw strength across the
markets and underwriting businesses. The Morgan Stanley Integrated
Firm model is delivering durable results,” CEO Ted Pick said.
Morgan Stanley’s stock added 1.74% in premarket trade after the
earnings announcement.
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