Here comes Morgan Stanley…

James gorman
Morgan Stanley CEO James Gorman. Getty

Morgan Stanley is expected to report Q1 earnings at 7 a.m. Monday.

Analysts are expecting adjusted earnings per share of $0.47 on revenue of $7.76 billion, according to Bloomberg.

In the same quarter last year, Morgan Stanley reported earnings of $0.85 per share (versus $0.78 expected) on revenue of $9.9 billion ($9.19 expected).

Last quarter, Morgan Stanley beat expectations, reporting diluted earnings per share of $0.43 ($0.32 expected) on revenue of $7.86 billion ($7.63 billion expected), excluding accounting adjustments.

The first quarter is typically the strongest for investment banks, but has been unusually weak on Wall Street so far in 2016.

Choppy trading conditions in early 2016, fears over China’s growth, and a collapsed oil price have created a
“perfect storm”
for banks. More on that here.

JPMorgan, Bank of America, Wells Fargo, and Citi have already reported first-quarter earnings, each beating or matching analyst expectations despite significant declines in profit.

Goldman Sachs will report Q1 earnings on Tuesday.

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