Morgan Stanley reported that its second-quarter revenue increased by 8% year-on-year, and its investment banking division made up for some of the weakness caused by the slowdown in transactions.
According to data compiled by Bloomberg, the Wall Street bank reported revenue of US$14.8 billion, higher than the US$13.7 billion a year ago and higher than the US$14 billion estimated by analysts.The recent integration of online trading platforms has flattered earnings this quarter Electronic trade And money manager Eaton Vance Morgan Stanley acquired it last year.
Morgan Stanley’s earnings per share were US$1.85, lower than US$1.96 per share a year ago. Net income was 3.5 billion U.S. dollars, up from 3.2 billion U.S. dollars a year ago.
Morgan Stanley benefited from higher fees for investment banking, but slightly lower than rivals JPMorgan Chase and Goldman Sachs, which reported earnings on Tuesday.
Morgan Stanley’s second-quarter revenue from investment banking was US$2.4 billion, an increase of 15.8% over the same period last year, including advisory services for business mergers and stock and debt underwriting. Analysts had expected it to be US$2.06 billion.
by comparison, JP Morgan Chase and Goldman Sachs According to the report, investment banking expenses increased by 25% and 36% year-on-year, respectively.
With the surge in mergers and acquisitions to offset the slowdown in transaction activity, Wall Street Bank has shifted its focus to transactions. Morgan Stanley’s sales and trading revenue in the second quarter was US$4.7 billion, a 23% year-on-year decrease, but higher than market expectations of US$4.4 billion.