Morgan Stanley Q3 Earnings Skyrocket – Are Big Banks Making a Comeback?
Morgan Stanley reported $4.6 billion in Q3 net income ($2.80/share), versus $3.2 billion ($1.88) a year ago investing.com. Revenue hit a record $18.2 billion, driven by a 44% jump in investment banking fees (to $2.11B) and a boom in equity underwriting investing.com investing.com. Its wealth-management arm also set records: $8.2B in revenue with a 30.3% pre-tax margin investing.com. CEO Ted Pick called it an “outstanding quarter with strong performance in each of our businesses globally” investing.com. Shares closed around $155 on Oct. 14 and were up ~1.2% pre-market on Oct. 15 stockanalysis.com stockanalysis.com. Analysts note that a resurgence of IPOs, M&A deals and expected Fed