Morgan Stanley: 4Q Earnings Snapshot
Posted Jan 17, 2019 07:36:45 AM.
This article is more than 5 years old.
NEW YORK (AP) _ Morgan Stanley (MS) on Thursday reported fourth-quarter profit of $1.53 billion.
The New York-based company said it had earnings of 80 cents per share. Earnings, adjusted for pretax gains and to account for discontinued operations, came to 73 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.
The investment bank posted revenue of $11.67 billion in the period. Its revenue net of interest expense was $8.55 billion, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $9.44 billion.
Morgan Stanley shares have climbed 12 per cent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 4 per cent. The stock has declined 19 per cent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MS at https://www.zacks.com/ap/MS
The Associated Press
