morgan stanley profits rise
Last Updated : GMT 16:22:18
Arab Today, arab today
Arab Today, arab today

Morgan Stanley profits rise

Arab Today, arab today

Arab Today, arab today Morgan Stanley profits rise

Washington - Arabstoday

US investment bank Morgan Stanley said it had swung to positive earnings due primarily to a favorable comparison with the year-ago period that included a large charge. Some of the bank’s trading and investment banking businesses suffered declines, while wealth management and asset management results strengthened. Morgan Stanley reported net income of $ 958 million on revenues of $ 8.2 billion, up from a loss of $ 119 million on revenues of $ 6.9 billion in the year-ago period. Morgan Stanley, however, said the current batch of quarterly results were weaker when excluding some debt whose value fluctuates. Morgan Stanley last year took a charge of $ 2 billion due to the fluctuating value of this debt; this time, the charge came in at just $ 317 million. Excluding this charge, Morgan Stanley revenues were $ 8.5 billion in the most recent quarter compared with $ 8.9 billion in the year-ago quarter and income from continuing operations came in at $ 1.2 billion compared with $ 1.4 billion a year ago. Morgan Stanley said advisory revenues were down 19.8 percent due to lower levels of market activity, although equity underwriting revenues rose. The company also garnered higher revenues in debt underwriting. Fixed income and commodities sales and trading revenues were just $ 1.5 billion compared with $ 2.6 billion in the year-earlier period. Revenues in equity sales and trading also declined.But Morgan Stanley reported 48 percent higher global wealth management profits, a category that Morgan Stanley hopes to bolster with the purchase of Citigroup’s remaining 35 percent stake in the business once it garners federal approval. Morgan Stanley said its profits in asset management rose to $ 187 million from $ 128 million in the year-ago period. Chief executive James Gorman said the company was looking forward to new business opportunities in Japan with its joint venture with Mitsubishi UFH Financial Group, given some of the shifts in Japan’s economic policy. Gorman gave a more bullish appraisal of market conditions compared with some banking executives. “Looking forward, while the global environment continues to have moments of fragility, we believe the broad economic outlook for the next several years is stronger than in the recent past,” Gorman said. Morgan Stanley shares are down 0.1 percent in pre-market trading. Source: ArabNews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

morgan stanley profits rise morgan stanley profits rise

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

morgan stanley profits rise morgan stanley profits rise

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday