Morgan Stanley beats

Morgan Stanley reported earnings that beat on the top and bottom lines.

The firm reported diluted earnings pers hare of $0.39 on revenue of $7.7 billion.

Analysts were expecting adjusted earnings per share of $0.32 on revenue of $7.63 billion, according to Bloomberg.

In the same quarter last year, Morgan Stanley missed expectations, reporting earnings of $0.40 per share ($0.49 expected) on revenue of $7.8 billion ($8.14 expected).

The bank missed in the
third quarter, too, reporting earnings per share of $0.34 ($0.64 expected) on revenue of $7.8 billion ($8.6 expected). Bond-trading revenue was down 42% year-on-year in the third quarter.

“The volatility in global markets in the third quarter led to a difficult environment, impacting in particular our Fixed Income business and our Asia Merchant Banking business,” CEO James Gorman said in a statement at the time.

JPMorgan, Citigroup, and Wells Fargo reported Q4 earnings last week and all of them were a beat. Bank of America also reports earnings on Tuesday morning, while Goldman Sachs will report on Wednesday.

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