Morgan Stanley Stock Moves Higher on Q3 Earnings Beat

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Morgan Stanley stock was on the rise Tuesday following the release of its earnings report for the third quarter of 2018.

Morgan Stanley Stock Moves Higher on Q3 Earnings Beat

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Morgan Stanley (NYSE:MS) starts off its earnings report for the third quarter of the year with earnings per share of $1.17. This is an increase over the company’s earnings per share of 93 cents from the same time last year. It is also good news for Morgan Stanley stock by beating out Wall Street’s earnings per share of $1.02 for the quarter.

During the third quarter of 2018, Morgan Stanley reported net income of $2.11 billion. This is better than the company’s net income of $1.78 billion that was reported during the third quarter of the previous year.

Operating income reported by Morgan Stanley for the third quarter of the year came in at $2.85 billion. The investment banking and financial services company reported operating income of $2.48 billion during the same period of the year prior.

Morgan Stanley also reported revenue of $9.87 billion for the third quarter of 2018. This is up from the company’s revenue of $9.20 billion that was reported in the third quarter of 2017. It was also a boon to Morgan Stanley stock by coming in above analysts’ revenue estimate of $9.55 billion for the period.

MS notes that part of the reason for the increase to its revenue for the quarter was results from its Institutional Securities division. This includes a 13% increase to revenue mostly due to strong underwriting and the company’s work on M&A advisory, as well as sales and trading.

MS stock was up 4% as of noon Tuesday, but is down 16% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/10/morgan-stanley-stock-up-on-earnings-beat/.

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