CEO of Morgan Stanley James Gorman speaks on May 6, 2014 in New York.
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Morgan Stanley on Thursday posted first-quarter profit that missed analysts’ expectations, but the firm’s trading desks generated about $700 million more revenue than e.
Here’s how the company did:
Earnings: $1.01 a share
Revenue: $9.49 billion
Wealth management: $4.04 billion
Trading: Equities $2.42 billion, Fixed Income $2.2 billion
Wall Street had expected earnings per share of $1.14 on revenue of $9.73 billion, based on the consensus estimates compiled by Refinitiv. Analysts had expected wealth management revenue of $4.28 billion and trading revenue of $2.23 billion in equities and fixed Income revenue of $1.71 billion.
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