The Clap Morgan Stanley (NYSE:MS) recorded an EPS of $2.01, beating analysts’ expectations of $1.19.
What The stronger-than-expected earnings were primarily due to record revenues from the company’s wealth management business and a growing trading business.
Despite beating analysts’ expectations, revenue dropped to $12.64bn during Q4 2022, compared with $14.52bn in Q4 2021.
So What The strong earnings come despite a difficult macroeconomic period consisting of sky-high interest rates and severe inflation. The biggest slowdown came in the investment banking sector, which was hurt badly by the collapse of IPOs.
Now What The company ended yesterday’s session up around 6% following the earnings release.