Morgan Stanley (NYSE:MS) Q1 earnings soar, hits $15.1B revenue
Morgan Stanley (NYSE:MS) has announced its financial outcomes for the first quarter of 2024, demonstrating robust growth with net revenues reaching $15.1 billion, up from $14.5 billion in the corresponding quarter last year.
The firm's profitability also saw an uplift, with net income hitting $3.4 billion, or $2.02 per diluted share, an increase from the previous year's $3 billion, or $1.70 per diluted share.
CEO Ted Pick praised the firm's performance, stating, "In the first quarter of 2024, Morgan Stanley generated net revenues of $15 billion and earnings of $2.02 per share for a 20% return on tangible equity."
He highlighted the firm's achievement of $7 trillion in client assets across Wealth and Investment Management, backed by strong net new asset growth, as well as noting the strength in Institutional Securities across the markets and underwriting businesses.
Pick concluded by affirming that "The Morgan Stanley Integrated Firm model is delivering durable results.".
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- Guy·04-16Morgan Stanley's Q1 earnings are really impressive.LikeReport