Morgan Stanley on Thursday reported fourth quarter 2017 earnings before the bell beating analyst expectations. $MS followed the other major banks with surging wealth and institutional revenues.
Morgan Stanley on Thursday reported fourth quarter 2017 earnings before the bell beating analyst expectations. $MS wealth management earnings grew 10.5% to $4.41 billion vs. $4.32 billion expected
Earnings: EPS of 84 cents beats expected 77 cents on revenue of $9.5 billion beating expected $9.2 billion.
Reaction: Morgan Stanley NYSE:
$MS $55.40 +.06 (+0.11%)
Morgan Stanley recorded a net discrete tax provision of $990 million related to the new tax law during 4Q17. This led to a 59% drop in earnings to $686MM, or $0.29 per share, from $1.6Bil, or $0.81 per share during 4Q16. Adj. EPS was $0.84. Net revenue during the quarter was $9.5Bil, up 5% from $9Bil.
- – Wealth management: $4.41 billion vs. $4.32 billion expected by StreetAccount
- – Fixed income, commodities and currencies trading: $808 million vs. $1.05 billion expected
- – Equities trading: $1.9 billion vs. $1.85 billion expected
Source: MS, AlphaStreet
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