Morgan Stanley posted a huge first-quarter earnings beat on Wednesday morning.
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Morgan Stanley beats, posts record quarter (MS)
Morgan Stanley smashes first-quarter earnings.
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The bank reported adjusted earnings of $1.45 a share, a 45% increase from last year and well ahead of analyst expectations of $1.28 a share.
Here are the key numbers (emphasis added):
- Revenue:
- record.
- Adjusted net income:
- record
- Equities:
- record.
- Fixed income:
- Investment banking:
- Wealth Management:
- record
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"We delivered very strong results this quarter, with record revenues and net income — and an ROE above our target range," CEO James Gorman said.
Morgan Stanley is the last big bank to report first-quarter earnings. Goldman Sachs on Tuesday joined Bank of America Merrill Lynch, Citigroup, and JPMorgan in reporting first-quarter earnings that beat analyst expectations.
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