Morgan Stanley (MS): Q3 profit up as share trading jumps 41%
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Morgan Stanley made $4.9bn in profit in Q3, up from $4.6bn a year ago, or $3.03 per share versus $2.80. Sales rose 12% to $20.3bn. Trading in shares did the heavy lifting, up about 41% to $5.8bn, while bond trading fell 7% to $2.0bn.
Why it matters Morgan Stanley is one of the biggest US banks. It helps companies raise money, trades for big investors and manages wealth for clients. A strong share-trading quarter shows investors were active, but it also leans on one business.
What we verified Morgan Stanley's SEC filing shows sales of $20,338m, profit of $4,909m and $3.03 per share. Its Wealth Management arm took in $232.4bn of new client money, up from $81.0bn. Reuters, via BNN Bloomberg, reports the same profit, share-trading and bond-trading figures and says analysts had expected about $2.91 per share.
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