Morgan Stanley (NYSE:MS) reported an earnings beat in the first quarter of 2018 on Wednesday.
During the first quarter of the year, Morgan Stanley reported earnings per share of $1.45. This is an increase over the company’s earnings per share of $1.00 from the same time last year. It was also good news for MS by coming in well above Wall Street’s earnings per share estimate of $1.25 for the period.
Net income reported by Morgan Stanley for the first quarter of 2018 was $2.70 billion. This is better than the net income of $1.97 billion that was reported by the bank in the first quarter of 2017.
Morgan Stanley also reported operating income of $3.42 billion for the first quarter of the year. The financial services company reported operating income of $2.81 billion for the same period of the year prior.
Revenue reported by Morgan Stanley for the first quarter of 2018 was $11.08 billion. This is an improvement from its revenue of $9.75 billion that was reported in the same quarter of the previous year. It also beats out analysts’ revenue estimate of $10.36 billion for the quarter.
Morgan Stanley’s earnings report for the first quarter of the year also includes its dividend announcement for shareholders. The company says that it will be paying a dividend of 25 cents per share to holders of MS stock on May 15, 2018. Investors must be on record as of April 30, 2018 to receive this dividend.
MS stock was up slightly as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
