TELETRADER News
10/14/2022, 1:32 PM
(Source: TeleTrader)
Morgan Stanley revenue down 12% to $13B in Q3
Morgan Stanley announced on Friday that its revenue in the third quarter fell 12% annually to $13 billion. Net income plunged 29%, landing at $2.6 billion, with diluted earnings per share (EPS) losing 26%, down to $1.47.
"Firm performance was resilient and balanced in an uncertain and difficult environment, delivering a 15% return on tangible common equity," CEO James Gorman said. "We continue to maintain our strong capital position while repurchasing $2.6 billion of shares and distributing a healthy dividend."
Morgan Stanley shares lost 2.37% in premarket trade following the earnings release.