Ted Pick, CEO of Morgan Stanley speaks on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 23, 2025.<\/p>\n
Gerry Miller | CNBC<\/p>\n
Morgan Stanley<\/a> on Wednesday posted<\/a> third-quarter earnings that topped expectations by the largest margin in nearly five years. <\/p>\n Here’s what the company reported:<\/p>\n Earnings per share: $2.80 vs. $2.10 LSEG estimateRevenue: $18.22 billion vs. expected $16.70 billion<\/p>\n The bank said profit surged 45% from a year earlier to $4.61 billion, or $2.80 per share. Revenue rose 18% to a record $18.22 billion.<\/p>\n Wall Street trading desks have seen booming activity in the quarter, while investment banking continues to see a resurgence in activity for mergers and IPOs. Stocks at or near record highs bolstered Morgan Stanley’s giant wealth management division as well.<\/p>\n Put together, Wall Street-centric banks like Morgan Stanley and peer Goldman Sachs<\/a> are in an ideal environment.<\/p>\n Morgan Stanley said investment banking revenue in the quarter jumped 44% from a year earlier to $2.11 billion, about $430 million more than the StreetAccount estimate. The bank cited more completed mergers, more IPO activity and more fixed income fundraising as reasons for the booming results.<\/p>\n Equities trading revenue rose 35% to $4.12 billion, or $720 million more than what analysts surveyed by StreetAccount had expected. <\/p>\n Shares of Morgan Stanley have climbed almost 24% this year.<\/p>\n On Tuesday, JPMorgan Chase,<\/a> Goldman, Citigroup<\/a> and Wells Fargo<\/a> each posted earnings that topped analysts’ expectations for earnings and revenue.<\/p>\n This story is developing. Please check back for updates.<\/p>\n","protected":false},"excerpt":{"rendered":"Ted Pick, CEO of Morgan Stanley speaks on CNBC’s Squawk Box outside the World Economic Forum in Davos,…\n","protected":false},"author":2,"featured_media":226418,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[1532,10906,1531,116,16066,28,122,2922,126885,8084,1533,113,1534,1535,918,2920],"class_list":["post-226417","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-banks","tag-breaking-news-earnings","tag-breaking-news-investing","tag-breaking-news-markets","tag-breakingnewsglobal","tag-business","tag-business-news","tag-citigroup-inc","tag-coronavirus-business","tag-earnings","tag-goldman-sachs-group-inc","tag-investment-strategy","tag-jpmorgan-chase-co","tag-morgan-stanley","tag-wall-street","tag-wells-fargo-co"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/226417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=226417"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/226417\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/226418"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=226417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=226417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=226417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}