Market Overview

UPDATE: Morgan Stanley Posts Higher Q2 Profit

Share:
Related MS
12 Big Banks To Watch Ahead Of The Coming Fed Stress Test
Morgan Stanley: Tesla Miss Not A 'Death Mistake'
Morgan Stanley: Significant Dividend Increase Likely After Stress Test Results (Seeking Alpha)

Morgan Stanley (NYSE: MS) reported a rise in its second-quarter profit.

Morgan Stanley's quarterly profit surged to $980 million, or $0.41 per share, from $591 million, or $0.29 per share, in the year-ago quarter. Excluding one-time items, the bank earned $0.45 per share.

Its total net revenue rose to $8.5 billion from $6.9 billion. However, analysts were estimating earnings of $0.43 per share on revenue of $7.89 billion.

Morgan Stanley's equity sales and trading net revenue surged to $1.8 billion from $1.3 billion.

Morgan Stanley shares gained 5.54% to $28.01 in pre-market trading.

Posted-In: profitEarnings News

 

Related Articles (MS)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→