Morgan Stanley (MS) has reported a notable increase in its third-quarter profit compared to the previous year, surpassing Wall Street expectations. The company announced earnings of $3.028 billion, which equates to $1.88 per share. This is a significant rise from the $2.262 billion, or $1.38 per share, recorded in the third quarter of the previous year.
According to data compiled by Thomson Reuters, analysts had predicted an average earnings of $1.58 per share, with estimates typically not accounting for any special items.
The company's revenue for the quarter saw a substantial increase of 15.9%, reaching $15.383 billion, up from $13.273 billion in the prior year.
Morgan Stanley's key financial highlights for the third quarter (GAAP) include:
- Earnings: $3.028 billion, up from $2.262 billion last year.
- Earnings per Share (EPS): $1.88, compared to $1.38 last year.
- Revenue: $15.383 billion, an increase from $13.273 billion last year.
