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Morgan Stanley earnings top estimates driven by wealth management
Morgan Stanley's fourth-quarter profit rose as wealth management revenue increased 13% and investment banking fees surged 47%, driven by strong dealmaking and underwriting.
- On Thursday, Morgan Stanley reported a $4.40 billion profit and EPS of $2.68 for the three months ended December 31, beating Wall Street analysts surveyed by LSEG expectations.
- Buoyed by rising markets, Morgan Stanley's wealth management business reported revenue up 13% to $8.43 billion, attracting $122.3 billion in net new assets and $45.6 billion in fee-based asset flows.
- Investment banking revenue jumped 47% to $8.4 billion, with advisory revenue climbing 45% to $1.13 billion and debt underwriting surging nearly 93% to $785m.
- With rival banks reporting mixed results, Morgan Stanley shares have gained 38% over 12 months but fell nearly 3% this week.
- Amid a surge in dealmaking, global mergers and acquisitions topped $5.1 trillion last year as the bank advised on marquee deals including Confluent's $11 billion sale to IBM and led IPOs like Medline and BETA Technologies.
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12 Articles
12 Articles
Morgan Stanley profit jumps on bumper investment banking fees
Morgan Stanley's profit rose in the fourth quarter, fueled by a 47% jump in investment banking revenue as dealmaking surged and debt underwriting fees nearly doubled, sending its shares 1.6% higher in premarket trading.
·United Kingdom
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Coverage Details
Total News Sources12
Leaning Left1Leaning Right1Center7Last UpdatedBias Distribution78% Center
Bias Distribution
- 78% of the sources are Center
78% Center
11%
C 78%
11%
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