4/16/2020, 1:23 PM (Source: TeleTrader)
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Morgan Stanley's EPS $1.01 in Q1, down 27% YoY

Morgan Stanley reported on Thursday that its net revenue totaled $9.49 billion in the first quarter of fiscal 2020, decreasing by 7.8% in comparison to the same timespan during the previous year.

Net income applicable to the firm amounted to $1.7 billion in the three months ending with March 31, 2020, plunging by 30% from the same trimester last year. The company's diluted earnings per share (EPS) stood at $1.01, down 27% compared to the first quarter of 2019.

"Over the past two months, we have witnessed more market volatility, uncertainty and anxiety as a result of the devastating COVID-19 than at any time since the financial crisis. While it's too early to predict how this will unfold, Morgan Stanley navigated the quarter well given the conditions, and our results bear testament to the strength of our balanced business model," Chairman and CEO James P. Gorman said in a statement.

Morgan Stanley's stock was 0.78% lower in premarket trade following the release of the report.

Breaking the News / MS