10/15/2020, 1:32 PM (Source: TeleTrader)
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Morgan Stanley's revenue reaches $11.7B in Q3

Morgan Stanley unveiled on Thursday that its net revenue in the third quarter of fiscal 2020 rose by 16.9% compared to the same period the year before to reach $11.7 billion.

The firm's diluted earnings per share (EPS) soared 30.7% compared to the third quarter of 2019, to stand at $1.66 in the three months ending with September 30. During the three-month period, the net income applicable to the company increased by 22.7% on an annual basis to amount to $2.7 billion.

"We delivered strong quarterly earnings as markets remained active through the summer months, and our balanced business model continued to deliver consistent, high returns. The completion of the E*TRADE acquisition, the subsequent ratings upgrade from Moody’s, and the recently announced acquisition of Eaton Vance significantly strengthen our Firm and position us well for future growth," Morgan Stanley CEO James Gorman stated.

The investment bank's stocks were down 0.49% in the premarket after the report, selling for $50.4 at 7:49 am ET.

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