Ted Pick, CEO of Morgan Stanley, speaks on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland, January 23, 2025.
Gerry Miller | CNBC
Morgan Stanley on Wednesday reported results that beat analysts’ estimates, as the company’s business operations generated $1 billion more in revenue than expected.
Here’s what the company reported:
- Profit: $3.43 per share versus $3 estimated by LSEG
- Revenue: $20.58 billion versus estimated $19.72 billion
The bank said its profit jumped 29% to $5.57 billion, or $3.43 per share. Revenue rose 16% to $20.58 billion, fueled by gains in the company’s trading, investment banking and wealth management businesses.
Stock trading revenue jumped 25% to a record $5.15 billion, about $450 million above StreetAccount’s estimate. The company cited strong volumes across its global equities franchise, particularly in its prime brokerage business for hedge funds and its derivatives business.
Fixed income revenue rose 29% to $3.36 billion, about $540 million more than expected, helped by commodity trading that benefited from volatility in energy markets during the period.
Analysts will want to know what CEO Ted Pick has to say about the business outlook for the rest of the year, as geopolitical tensions remain high.
This story is developing. Please check again for updates.