Ted Pick, CEO Morgan Stanley, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024.
Adam Galici | CNBC
Morgan Stanley on Thursday topped estimates for fourth quarter earnings and revenue as the firm’s equities and fixed income traders exceeded expectations.
Here’s what the company reported:
- Earnings: $2.22 a share vs. $1.70 LSEG estimate
- Revenue: $16.22 billion, vs. $15.03 billion estimate
Morgan Stanley has several factors working in its favor.
The bank’s massive wealth management business will be helped by high stock market values in the fourth quarter, which inflates the management fees it collects.
Investment banking activity continued to rebound last quarter, jumping 29% in the quarter, per Dealogic figures, fueled by rising advisory and equity capital markets activity. And trading activity was supported by an eventful election season.
On Wednesday, JPMorgan Chase, Goldman…
