Crypto EcoBlog
Morgan Stanley has made a big jump following its previous quarter reports that were marred by the influence of the coronavirus pandemic.Investment banking giant Morgan Stanley (NYSE: MS) has posted a better than expected earnings for its Q3 on Thursday. According to Reuters, the Q3 earning Morgan Stanley reported came as a result of the firm’s blossoming trading business.Per the financials, Morgan Stanley reported an .7 billion net revenue surpassing last year’s figures that were pegged at billion. Net income reported came at .7 billion or .66 per diluted share, a big improvement from the net income of .2 billion, or .27 per diluted.Morgan Stanley’s Chief Executive Officer and Chairman James P. Gorman attributed the company’s performance to key business decisions involving
Topics:
<title> considers the following as important:
This could be interesting, too:
Andrew Throuvalas writes Google Searches For ‘Bitcoin Halving’ Reach Highest Level Ever
Felix Mollen writes Some Traders Think This New Solana Meme Coin Might Explode When It Lists on Exchanges in 10 Days
Chainwire writes Circle of Games secures million of strategic funding from Nazara Technologies and The Hashgraph Association
Jean-Luc writes Les soirées « halving » du week-end
Morgan Stanley has made a big jump following its previous quarter reports that were marred by the influence of the coronavirus pandemic.
Investment banking giant Morgan Stanley (NYSE: MS) has posted a better than expected earnings for its Q3 on Thursday. According to Reuters, the Q3 earning Morgan Stanley reported came as a result of the firm’s blossoming trading business.
Per the financials, Morgan Stanley reported an $11.7 billion net revenue surpassing last year’s figures that were pegged at $10 billion. Net income reported came at $2.7 billion or $1.66 per diluted share, a big improvement from the net income of $2.2 billion, or $1.27 per diluted.
Morgan Stanley’s Chief Executive Officer and Chairman James P. Gorman attributed the company’s performance to key business decisions involving targeted acquisitions made within the quarter. He said:
“We delivered strong quarterly earnings as markets remained active through the summer months, and our balanced business model continued to deliver consistent, high returns. The completion of the E*TRADE acquisition, the subsequent ratings upgrade from Moody’s, and the recently announced acquisition of Eaton Vance significantly strengthen our Firm and position us well for future growth.”
Other performance tickers including the record of a pre-tax income of $3,487 as against $2,710 reported in Q3 2019. The reported net revenue does not just express the sound position of the company to investors, it showed that the company’s business has strengthened across all front despite the ravaging effects of the coronavirus pandemic.
Also, Morgan Stanley reported growth in its investment banking sector with revenues shooting up 11% from a year ago while the company’s Trading and Sales net revenue climbed by 20% from a year ago. With good growths seen in most indices showing an impressive performance in the quarter ended September 30th, Morgan Stanley now stands as one of Wall Street’s big names with a positive Q3 outlook.
Morgan Stanley Q3 Results: How Firm Fared Compared to Previous Quarters
Morgan Stanley has made a big jump following its previous quarter reports that were marred by the influence of the coronavirus pandemic. Despite the acquisition of E*TRADE, a leading online broker that has produced stellar results for the greater part of a decade and that has about $360 billion in assets, Morgan Stanley’s Q1 performance turned out low in the first quarter of 2020.
In Q1, the total net revenue reported came at $9.49 resulting in a plunge of about 7.8% compared to the same period last year. The Q2 performance however complimented the Q1 plunge suggesting that the company’s investments in the previous quarter had started picking up the positive momentum. Morgan Stanley’s Q2 revenue surged to $13.4, an increase over 2019 Q2’s $10.2 billion.
The positive momentum the company has gained as shown in both its Q2 and Q3 will make analysts revise their expectations for Morgan Stanley in the current Q4.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.