On January 23, 2025, Morgan Stanley CEO Ted Pick spoke at the CNBC Squawk Box outside the World Economic Forum in Davos, Switzerland.
Gerry Miller | CNBC
Morgan Stanley Third-quarter earnings reported Wednesday beat expectations by the most in nearly five years.
Here's what the company reports:
- Earnings per share: $2.80, LSEG estimate of $2.10
- Revenue: $18.22 billion, $16.7 billion expected
The bank said profits surged 45% from a year earlier to $4.61 billion, or $2.80 a share. Revenue rose 18% to a record $18.22 billion.
Activity on Wall Street's trading desks boomed during the quarter, while merger and initial public offering activity in investment banking continued to recover. Stocks at or near record highs have also boosted Morgan Stanley's massive wealth management unit.
Wall Street-centric banks and peers such as Morgan Stanley Goldman Sachs All in ideal surroundings.
Morgan Stanley said investment banking revenue in the quarter rose 44% year-on-year to $2.11 billion, about $430 million higher than StreetAccount's forecast.
Morgan Stanley's shares have risen nearly 24% this year.
Tuesday, JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo Each company reported earnings that topped analysts' earnings and revenue estimates.
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