Morgan Stanley's wealth management business reported record revenues and investment banking continued its recovery.
Morgan Stanley delivered mostly better-than-expected first-quarter results Tuesday morning — a much-needed report for the bank, whose stock has lagged industry peers and tested our patience. Revenue for the three months ended March 31 increased 4% year over year to $15.14 billion, outpacing expectations of $14.41 billion, according to estimates compiled by LSEG. Earnings per share jumped 19% versus the year-ago period to $2.02, exceeding the $1.66 expected, according to LSEG.
Signage is displayed outside Morgan Stanley & Co. headquarters in the Times Square neighborhood of New York.Morgan Stanley delivered mostly better-than-expected first-quarter results Tuesday morning — a much-needed report for the bank, whose stock has lagged industry peers and tested our patience.
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