Jan. 15 at 1:33 PM
Morgan Stanley reported Q4 results that beat Wall Street expectations, led by strong performance in wealth management and investment banking. EPS came in at
$2.68 versus
$2.44 expected, and revenue reached
$17.89B compared with
$17.77B expected. Net income rose to
$4.40B from
$3.71B a year ago. The wealth management division generated
$8.4B in revenue for the quarter, up from
$7.5B, and set a full-year record of
$31.8B. Investment banking revenue increased 47% to
$2.41B, boosted by higher advisory fees amid increased M&A activity across all regions. Morgan Stanley shares have gained 38% over the past 12 months but have slipped nearly 3% this week as other major banks reported earnings.
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