U.S. investment bank Morgan Stanley (MS) has reported fourth-quarter financial results that topped Wall Street forecasts due largely to strong equity trading.
The New York-based investment firm has announced earnings per share of $2.22 U.S., which beat the consensus estimate among analysts of $1.70 U.S.
Revenue in the final three months of 2024 came in at $16.22 billion U.S., which beat Wall Street forecasts that called for $15.03 billion U.S.
Management said that the bank got a lift in the quarter from a booming stock market, which elevated revenue from both equity and fixed income trading.
Additionally, Morgan Stanley’s large wealth management unit was helped by high stock market values, which increases the management fees the bank collects from clients.
Morgan Stanley added that its Investment banking activity rebounded last autumn, rising nearly 30% from a year earlier, driven by growing advisory and equity capital markets activity.
Morgan Stanley is the latest Wall Street bank to report strong Q4 2024 results, following solid prints from JPMorgan Chase (JPM), Bank of America (BAC), and Goldman Sachs (GS).
The U.S. banking sector tends to set the tone for earnings season in America.
Morgan Stanley’s stock has increased 52% over the last 12 months to trade at $130.55 U.S. per share.
