The Morgan Stanley headquarters is seen in New York Metropolis on Jan. 17, 2023.
Michael M. Santiago | Getty Photographs
Morgan Stanley reported fourth-quarter earnings earlier than the bell Tuesday.
Here is how the financial institution did in contrast with Wall Road expectations:
- Earnings per share: 85 cents, could not evaluate with $1.01 anticipated, in line with LSEG
- Income: $12.9 billion, vs. $12.7 billion anticipated, in line with LSEG
That is the primary earnings report below new CEO Ted Decide, who succeeded James Gorman as CEO at first of 2024. Decide is a Morgan Stanley veteran who rose via the ranks to guide the financial institution’s Wall Road operations.
“In 2023, the Agency reported a strong ROTCE in opposition to a combined market backdrop and quite a lot of headwinds,” Decide stated in an announcement. “We start 2024 with a transparent and constant enterprise technique and a unified management crew. We’re targeted on reaching our long-term monetary targets and persevering with to ship for shareholders.”
The outcomes included a $286 million cost associated to a Federal Deposit Insurance coverage Company particular evaluation and a $249 million authorized cost to settle a legal investigation and a associated Securities and Alternate Fee probe of the unauthorized disclosure of block trades.
Shares of the New York-based financial institution have fallen practically 4% in 2024 after a ten% achieve final yr.
That is breaking information. Please verify again for updates.
