Morgan Stanley (MS) Q4 2024 earnings

Morgan Stanley On Thursday, it beat estimates for fourth-quarter earnings and revenue as the company’s shares and fixed-income traders beat expectations.

Here is what the company said:

• Earnings: $2.22 per share versus $1.70 LSEG estimates
• profit: $16.22 billion versus the estimated $15.03 billion

The bank said its quarterly profits doubled to $3.71 billion, or $2.22 per share, on an annual basis. previouslywhen he had a pair of regulatory charges.

Revenue rose 26% to $16.22 billion as results improved across all of the bank’s core businesses.

The company’s stock trading business was the brightest of the quarter, resulting in a 51% jump in revenue to $3.3 billion, or nearly $650 million more than StreetAccount estimates. Morgan Stanley cited increased client activity and the strength of its prime brokerage business catering to hedge funds.

The company’s fixed income operations saw revenue jump 35% to $1.93 billion, about $250 million more than StreetAccount estimates, due to increased activity in the credit and commodities markets.

Investment banking revenue rose 25% to $1.64 billion, essentially in line with StreetAccount estimates, thanks to higher advisory and capital markets results.

Wealth Management saw revenues rise 13% to $7.48 billion due to higher asset levels and higher fees, beating estimates by $120 million.

While banking stocks were supported by enthusiasm over expectations of higher deal activity, it was the trading side that actually helped Morgan Stanley and its rival. Goldman Sachs More in a fourth. Traders at both companies benefited from increased activity leading up to and after the US elections in November.

Morgan Stanley shares rose about 1.6% in morning trading Thursday.

Wednesday, JPMorgan ChaseGoldman W Citigroup Each beat expectations, supported by better-than-expected revenues from trading or investment banking.