Reported about 1 month ago
Morgan Stanley has reported a significant profit increase of 32% in the third quarter, driven by a surge in investment banking activities, including IPOs and mergers. The bank's earnings per share reached $1.88, surpassing analyst expectations, as investment banking revenue rose by 56%. This momentum, fueled by a revival in corporate debt issuance and a favorable market environment, boosted Morgan Stanley’s shares to a record high. The wealth management sector also performed well, contributing to a substantial rise in total client assets.
Source: YAHOO