Morgan Stanley Q2 Profit Soars 58% on Trading, Dealmaking Boom
MS sits 71% above its 52-week low of $135.265.
Summary
Morgan Stanley delivered a blowout Q2, with profit surging 58% to $5.65 billion, or $3.46 per share, on revenue of $21.35 billion, both well above consensus. Investment banking fees jumped 58% to $2.44 billion, fueled by a blockbuster SpaceX IPO and robust equity capital markets activity. Trading revenue climbed 48% to $8.76 billion, with equities up 69% on heightened client activity in Asia. CFO Sharon Yeshaya noted that half of the growth in wealth management came from managing IPO-related assets. The results echo strong trading and dealmaking trends across big banks, and shares rose more than 1% in premarket trading, pushing near the 52-week high.
At the time of this announcement, MS was trading at $230.90 on NYSE in the Finance sector, with a market capitalization of approximately $359.1B. The 52-week trading range was $135.27 to $232.11. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.