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Ted Decide, CEO Morgan Stanley, talking on CNBC’s Squawk Field on the World Financial Discussion board Annual Assembly in Davos, Switzerland on Jan. 18th, 2024.
Adam Galici | CNBC
Morgan Stanley on Tuesday posted outcomes that topped analysts’ estimates for revenue and income as wealth administration, buying and selling and funding banking exceeded expectations.
Here is what the corporate reported:
- Earnings: $2.02 a share, vs. $1.66 LSEG estimate
- Income: $15.14 billion, vs. anticipated $14.41 billion
How did Morgan Stanley CEO Ted Decide do in his first quarter main the corporate?
Decide’s tenure has kicked off on a rocky be aware, as excessive rates of interest have incentivized the financial institution’s wealth administration clients to maneuver money into higher-yielding securities.
But when its rivals are any indication, Morgan Stanley might be helped by sturdy funding banking and buying and selling leads to the quarter.
Final week, JPMorgan Chase, Wells Fargo and Citigroup every topped expectations for income and revenue, a streak continued by Goldman Sachs on Monday. Financial institution of America reported its quarterly outcomes earlier Tuesday.
Analysts are prone to query Decide about experiences that a number of U.S. regulators are investigating Morgan Stanley for potential shortfalls in the way it screens shoppers for its wealth administration division.
This story is growing. Please test again for updates.
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