Morgan Stanley tops quarterly estimates as equity trading revenue surges 45%
Shares of Morgan Stanley, like those of its peers, have whipsawed in recent days amid President Donald Trump's trade policies
Morgan Stanley on Friday reported first-quarter results that topped estimates as equity trading revenue surged 45% amid rising global volatility.
Here's what the company reported:
- Earnings: $2.60 a share vs. $2.20 a share LSEG estimate
- Revenue: $17.74 billion vs. expected $16.58 billion
Shares of Morgan Stanley, like those of its peers, have whipsawed in recent days as President Donald Trump's trade policies have increased concern that the U.S. was headed for a recession.
The bank's massive wealth management business will be helped by high stock market values in the first quarter, which inflates the management fees it collects.
Analysts will want to ask about the outlook for investment banking activity, which may be curtailed amid the tensions.
This story is developing. Please check back for updates.
This story originally appeared on: CNBC - Author:Hugh Son
