morgan stanley profits rise
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
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

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday