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Morgan Stanley Earnings: MS Stock Moves 2% Higher on Q3 Beat

MS beat EPS estimates by 6 cents

Morgan Stanley (NYSE:MS) earnings for the financial company’s third quarter of 2019 have MS stock up on Thursday. This is thanks to its earnings per share of $1.27 on revenue of $10.03 billion. These both handily beat out Wall Street’s EPS and revenue estimates of $1.11 and $9.60 billion.

Morgan Stanley Earnings: MS Stock Moves 2% Higher on Q3 Beat
Source: Ken Wolter / Shutterstock.com

Let’s take a closer look at the Morgan Stanley earnings report for Q3 2019.

  • Per-share earnings for the quarter are up 8.55% from $1.17.
  • Revenue is 1.62% higher than the $9.87 reported during the same time last year.
  • MS notes that this is its highest revenue reported during a third quarter for the decade.
  • It also mentions that this is due to its seeing strong revenue performance across all business segments.
  • Net income of $2.17 billion is a 2.84% increase over $2.11 billion in the third quarter of 2018.
  • The company also repurchased $1.50 billion worth of shares throughout the quarter.

James Gorman, Chairman and CEO fo MS, says about the Morgan Stanley earnings report.

“We delivered strong quarterly earnings despite the typical summer slowdown and volatile markets. Our consistent performance shows the stability of our business model. We remain committed to controlling our expenses and are well positioned to pursue our growth initiatives.”

The Morgan Stanley earnings report doesn’t include its outlook for the rest of the year. However, we do know that Wall Street is looking for EPS of $4.80 on revenue of $39.80 billion for the full year of 2019.

MS stock was up 2% as of Thursday afternoon. It’s also up nearly 6% 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/2019/10/morgan-stanley-earnings-boost-ms-stock/.

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