The investment bank Morgan Stanley achieved a net profit of $6,803 billion dollars in the first nine months of the year, 6% less than in the same period in 2018, said Thursday the company, which noted that however this last quarter advanced by 2.3% its profits over 2018.

Net income fell 3% in the period January-September 2019 to $30,562 billion dollars, compared to $31,559 billion last year during the same period.
Morgan Stanley shareholders earned $3.89 per share between January and September this year, compared to $3.92 in the same period last year.

In the third quarter, the data most followed by Wall Street analysts, the profit rose to 2,173 million dollars, representing an increase of 2.3% over the same period last year (2,112 million dollars).

Revenues were up 2% in the third quarter over the same period in fiscal year 2018 to $10.032 billion.

Shareholders earned $1.27 per share in the last quarter of this year, versus $1.17 in the same period last year.

This figure was higher than analysts expected, who predicted a profit of $1.11 per share in the last three months.

Morgan Stanley Chairman and CEO James P. Gorman explained in a note: “We deliver strong quarterly earnings despite the typical summer slowdown and volatile markets.

“Company-wide revenues surpassed $10 billion for the third consecutive year in a quarter. We remain committed to controlling our spending and are well positioned to pursue our growth,” he added.

Morgan Stanley is the last major U.S. bank to report earnings for the third quarter, a period in which it nonetheless faced two interest rate cuts by the Federal Reserve, as well as mounting global tensions.

Déjanos tu opinión