By Alexander Bueso
Date: Wednesday 18 Apr 2018
LONDON (ShareCast) - (ShareCast News) - Morgan Stanley clocked-in with its best quarterly earnings performance in 10 years on Wednesday, as volatility in global capital markets saw its trading revenues jump by nearly a fifth.
For the first quarter of 2018, the bank posted a 38% jump in total net income on a continuing basis to reach $3.42bn, for earnings per share of $1.45, which easily beat the consensus forecast from analysts polled by FactSet for $1.26.
That came on the back of a bumper 17% increase in net revenues to $11.08bn (consensus: $10.37bn), led by a 35% increase in revenues at its Institutional Securities unit to $6.1bn.
"We delivered very strong results this quarter, with record revenues and net income - and an ROE above our target range. Each of our businesses performed well, with significant client engagement across our global franchise, and Sales and Trading a particular highlight in a more active environment," said Morgan Stanley's boss, James P Gorman.
Within that, trading sales rose up by 17% to hit $3.77bn, accounting for the bulk of the improvement, and were up by 68% versus the end of 2017.
In equities, sales and trading revenues rose by roughly 30% to $2.6bn (consensus: $2.23bn) and those from fixed income by 12% to reach $1.9bn.
As at 31 March, total assets under management stood at $469bn, versus $421bn one year ago.
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Currency | US Dollars |
Share Price | $ 104.11 |
Change Today | $ -0.49 |
% Change | -0.47 % |
52 Week High | $106.96 |
52 Week Low | $70.40 |
Volume | 3,113,293 |
Shares Issued | 1,646.00m |
Market Cap | $171,365m |
Beta | 0.88 |
RiskGrade | 150 |
Strong Buy | 4 |
Buy | 4 |
Neutral | 13 |
Sell | 1 |
Strong Sell | 0 |
Total | 22 |
Time | Volume / Share Price |
16:00 | 100 @ $104.12 |
16:00 | 617,860 @ $104.11 |
15:59 | 100 @ $104.12 |
15:59 | 628 @ $104.11 |
15:59 | 300 @ $104.11 |
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