Morgan Stanley (NYSE:MS) stock got a boost today after reporting positive results in its earnings report for the third quarter of 2017.
During its third quarter of 2017, Morgan Stanley reported earnings per share of 93 cents on revenue of $9.19 billion. This is good news for MS stock by beating out Wall Street’s earnings per share and revenue estimates of 81 cents and $9.01 billion.
Morgan Stanley’s earnings per share and revenue for the third quarter of 2017 was also an increase from the same time last year. In the third quarter of 2016, MS reported earnings per share of 81 cents on revenue of $8.91 billion.
Institutional Securities revenue reported by Morgan Stanley in the third quarter of the year was $4.4 billion. This is a decrease from its Institutional Securities revenue of $4.6 billion reported in the same period of the year prior.
Morgan Stanley’s Wealth Management revenue for the most recent quarter was $4.2 billion. The financial services company reported Wealth Management revenue of $3.9 billion in the third quarter of 2016.
The third quarter of the year also saw Morgan Stanley report Investment Management revenue of $675 million. This is an increase over its Investment Management revenue of $552 million from the same quarter of the previous year.
Morgan Stanley also reported net income of $1.78 billion in the third quarter of 2017. This is up from its net income of $1.76 billion that was reported in the third quarter of 2016. Operating income for the quarter was $2.48 billion, as compared to $2.64 billion in the third quarter of 2016.
MS stock was up 1% as of Tuesday morning and is up 17% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.
