Morgan Stanley Stock Jumps After Better-Than-Expected Q2 Earnings

Morgan Stanley (MS) posted beardown second-quarter top- and bottom-line results contempt sluggish maturation successful nan bank's wealth-management business Tuesday.

The slope reported second-quarter earnings per stock (EPS) of $1.82 connected gross of $15.02 billion, topping analysts’ expectations of $1.64 per stock and $14.26 billion, respectively, per statement compiled by Visible Alpha. Revenue roseate 12% year-over-year. 

Morgan Stanley’s wealthiness guidance section posted a 2% summation successful gross year-over-year to $6.79 billion. The slope added $36.4 cardinal successful nett caller assets, good beneath nan $89.5 cardinal added successful nan year-ago quarter. 

The shares gained successful caller trading, pinch Morgan Stanley banal up astir 3%. The KBW Nasdaq Bank Index (BKX) was up astir 2.6%.

Revenue from equity trading jumped 18% to $3.02 billion. Fixed-income gross roseate 16% to $1.99 cardinal and investment-banking gross rocketed 51% to $1.62 billion. 

Morgan Stanley is nan latest large slope to beat expectations connected some profit and revenue, joining Citigroup (C), JPMorgan Chase (JPM), Wells Fargo (WFC) and Goldman Sachs (GS).