Morgan Stanley's net income climbs to £2.11 billion in the third quarter

Morgan Stanley profit crushes estimates on trading strength

Morgan Stanley profit crushes estimates on trading strength

'Big investment banks are the easiest financial stocks to own because they have comparatively small loan portfolios (which are the biggest risk) but have upside earnings leverage to the now active capital markets.

Bank of America, in contrast, saw its VAR edge higher over Q3, by 5% to $22 million. The American multinational's financial results came in a day after its peer, Wells Fargo, revealed a massive 56% decline in third-quarter profit. Net income rose to $2.72 billion, or $1.66 a share, from $2.17 billion, or $1.27 a share, in the year-ago period, beating the FactSet earnings consensus of $1.28 a share. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.

However whereas Morgan Stanley's general outcomes had been sturdy, they weren't as potent as Goldman Sachs' third quarter outcomes on Wednesday, and Morgan Stanley's inventory worth seems to be paying a worth for the comparability with shares up exclusively very barely in pre-market buying and selling.

Sign-up for the DMNnewsletter, today. Four analysts surveyed by Zacks expected $10.3 billion.

Net income applicable to common shareholders rose to US$2.60 billion in the quarter ended Sept 30, from US$2.06 billion a year ago. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.

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At Morgan Stanley, VAR dipped only slightly quarter on quarter, by 3% to $58 million.

"We delivered strong quarterly earnings as markets remained active through the summer months", Morgan Stanley Chief Executive Officer James Gorman said in a statement Thursday. Experts had forecast a much lower £2.59 billion of revenue from sales and trading in the recent quarter.

The bank had already warned that the division would not perform as well in the third quarter as it had in the second, when it had benefited from huge swings in financial markets due to the coronavirus outbreak.

The new Morgan Stanley will rely on its beefed-up wealth- and money-management businesses for a majority of its revenue, while also trying to maintain its standing in the markets and dealmaking world. Analysts had anticipated £1.70 billion and £1.23 billion of revenue from equity and fixed income, respectively.

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