The US bank’s shares are showing good momentum, although its quarterly earnings fell 14% year-on-year.
The American Business Bank Morgan Stanley published its quarterly results on Tuesday and reported a 14% drop in its profits compared to the same period last year, which fell to US$2,000 million, due to a difficult context for some advisory activities.
However, the Actions of the company rise 6.06% this Tuesday in Wall Street and this responds to the trend that is expected to go forward. “The quarter began with macroeconomic uncertainties and weak client activity, but finished better” at the end of the period, James Gorman, president of Morgan Stanley.
He bank noted that it has a “solid capital position” and reported that its billing it grew 2% over the second quarter of 2022 to US$13.46 billion, with a record in the large fortune management division, where the net amount of new deposits reached US$90 billion.
But, just like in the first quarter, Morgan Stanley suffered from a lack of activity in the M&A sector.
Source: Ambito
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