“Morgan Stanley tops analysts’ revenue estimates by $1 billion on stronger-than-expected trading”
October 18, 2020
“The bank said Thursday in a release that profit jumped 25% from a year earlier to $2.72 billion, or $1.66 per share, exceeding the $1.28 estimate of analysts surveyed by Refinitiv. It generated revenue of $11.7 billion, 16% higher than a year earlier and a billion dollars more than the estimate.
Morgan Stanley, which has been Wall Street’s most aggressive acquirer with $20 billion in takeovers this year, appeared to be firing on all cylinders. The firm’s traders led the outperformance, producing $400 million more in revenue than expected by analysts, mostly driven by bond trading desks.
But the bank also topped estimates in its wealth management and investment management divisions, each producing more than $200 million more in revenue than expected…”
https://www.cnbc.com/2020/10/15/morgan-stanley-ms-earnings-3q-2020-.html