MS - Morgan Stanley Q2 Earnings: Higher Profits As Investment Banking Activity Rebounds On Track To Reach $10T Client Assets | Benzinga
Tuesday, Morgan Stanley (NYSE:MS) reported second-quarter EPS of $1.82, up from $1.24 a year ago and beating the consensus of $1.65.
The U.S. bank reported second-quarter sales of $15.02 billion, up 11.6% year over year, beating the consensus of $14.30 billion.
The sales were balanced across Wealth Management and Institutional Securities.
CNBC noted that Morgan Stanley’s Wall Street-focused business model paid off this quarter. A rebound in trading and investment banking drove higher revenue in its institutional securities division than in its wealth management division, reversing the usual trend.
Institutional Securities reported net revenues of $6.98 billion compared with $5.7 billion a ...