4/17/2019, 1:02 PM (Source: TeleTrader)
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Morgan Stanley EPS down 4.13% to $1.39 in Q1

Morgan Stanley said in a report on Wednesday that its diluted earnings per share (EPS) in the first quarter of 2019 stood at $1.39, compared to $1.45 in the same period in 2018. Net income applicable to Morgan Stanley amounted to $2.4 billion, down by 8.96% annually, while firm net revenues declined 7% to $10.29 billion, beating expectations.

In the three months through March 31 this year, revenues from investment banking fell 24% to stand at $1.15. Compensation expenses also decreased, from $4.91 billion to $4.65 billion in the quarter, the financial results showed. Wealth management and investment management upped their net revenues by 0.34% and 11.97%, respectively.

"We delivered solid earnings despite a slow start to the year following the turbulent markets in the fourth quarter. With an ROE of 13.1% and ROTCE of 14.9%, our results demonstrated the stability and breadth of our global franchise. Even though risks to the global environment remain, markets have recovered and we are well positioned to serve our clients and invest in our businesses," said Chairman and Chief Executive Officer James P. Gorman.

Shares were up over 2% in premarket trade after the earnings results were published.

Breaking the News / NI