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It has been a fairly busy week over in the US with some of the world’s biggest financial institutions reporting their earnings numbers for the previous quarter. On Thursday, it was Morgan Stanley’s turn to report their earnings for Q2.
The company reported revenue of $14.8 billion in Q2 beating the $13.98 estimate. Earnings per share came in at $1.85 per share vs. forecast of $1.65 per share.
”The Firm delivered another very strong quarter, with contributions from all of our businesses. Our Wealth and Investment Management businesses attracted $120 billion in flows and Institutional Securities generated over $7 billion in revenues. With our transformed business model providing more stable and durable earnings, we have doubled our dividend and announced a $12 billion buyback as we move to return our excess capital to shareholders. Our global franchise is very well positioned to drive further growth.” – company’s Chairman and CEO, James Gorman commented on the report after it was released before the opening bell on Thursday.
Morgan Stanley Chart (1Y)
The share price of Morgan Stanley traded higher during the session – up by 1.43% at $93.78 per share. The stock is up by 82% in the past year.
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Sources: Morgan Stanley, Refinitiv, TradingView
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