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Morgan Stanley quarterly profit goes down 59 pct

Morgan Stanley quarterly profit goes down 59 pct. Morgan Stanley Group Inc announced a 58.8 % slide in quarterly profit on Thursday, as the bank took a one-time provision of about $1.2 bn for the fresh unite states tax law.

Net revenue fell to $686 mn or 29 cents per share in the 4th quarter ended Dec. 31, from $1.67 bn or 81 cents per share, final year.
Excluding the one-off charge & other items, Morgan Stanley’s adjusted profit was $1.68 billion, or 84 cents per share.
Analysts on average were looking for 77 cents per share, according to Thomson Reuters I/B/E/S.
(Reporting with Aparajita Saxena in Bengaluru; Editing with Bernard Orr)

Morgan Stanley quarterly profit tanks; adjusted profit wins view

Morgan Stanley recorded a one-time $1.2 bn tax provision, the smallest between the banks.
Investment banking income rose 12.4 % to $1.55 billion, When fortune management rose 10.5 percent.
Trading revenue, that Information Systems traditionally Morgan Stanley’s biggest source of income, fell 19.5 % to $2.25 billion.
Excluding the one-off charge & other items, Morgan Stanley’s adjusted profit was $1.68 billion, or 84 cents per share.
Total income rose to $9.50 bn from $9.02 billion.
Morgan Stanley quarterly

Morgan Stanley adjusted profit rises; IBM sees 1st income height in 22 quarters

as declared in banksMorgan Stanley adjusted profit risesMorgan Stanley’s adjusted quarterly profit topped Wall Street estimates Thursday as Dominance in underwriting & fortune management offset a sharp however foreseen decline in bond trading revenue.
Underwriting revenue rose 42 percent, to $915 million, When revenue from other fractions of the institutional securities unit declined.
Wealth management too posted revenue gains & its 26 % pretax profit margin topped chief executive James Gorman’s range for the year.
Excluding the tax charge & other items, adjusted profit was $1.68 billion, or 84 cents per share.
The Corporation took a $2.6 bn charge to cover a fresh one-time repatriation tax on undistributed revenue of proven non-U.

 

 

 

collected by :Victor Alphen

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