Morgan Stanley Q3 Earnings Skyrocket – Are Big Banks Making a Comeback?
Morgan Stanley reported Q3 net income of $4.6 billion, up from $3.2 billion a year earlier, with record revenue of $18.2 billion. Investment banking fees jumped 44% to $2.11 billion, and wealth management revenue hit $8.2 billion with a 30.3% pre-tax margin. Shares closed at $155 on Oct. 14 and rose 1.2% pre-market Oct. 15. Analysts cited strong deal activity and expectations of Fed rate cuts.