10/18/2023, 1:31 PM (Source: TeleTrader)
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Morgan Stanley's revenue up 2.2% to $13.3B in Q3

Morgan Stanley reported on Wednesday that its third-quarter revenue came at $13.3 billion, rising 2.2% compared to the same period in 2022. Meanwhile, the net income fell by 8.5% to $2.4 billion, with the diluted earnings per share (EPS) decreased 6% annually to $1.38.

"Our Equity and Fixed Income businesses navigated markets well, and both Wealth and Investment Management produced higher revenues and profits year-over-year. Our ability to gather assets, together with our strong capital position and leading client franchises, position us to deliver continued growth and strong shareholder returns going forward," CEO James Gorman noted.

Morgan Stanley's stock plunged 2.03% in premarket trade after the earnings release at 7:39 am ET.

Baha Breaking News (BBN) / AC