Economy

xchrom

(108,903 posts)

25. MORGAN STANLEY THIRD-QUARTER PROFIT ALMOST DOUBLES

Sat Oct 19, 2013, 10:03 AM

Oct 2013

http://hosted.ap.org/dynamic/stories/U/US_EARNS_MORGAN_STANLEY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-10-18-12-00-09

NEW YORK (AP) -- Investment bank Morgan Stanley's third-quarter earnings almost doubled as the firm's stock sales and trading revenue rose.

THE RESULTS: The bank earned $1.01 billion from July to September after stripping out an accounting charge. That compares with earnings of $560 million a year earlier. That profit works out to 50 cents per share before the charge, compared with 28 cents per share in the same period a year earlier. Financial analysts polled by FactSet expected earnings of 40 cents. Analysts generally strip out one-time items.

Total revenue amounted to $8.1 billion, up 6.5 percent from $7.6 billion a year earlier.

HOW IT HAPPENED: Stock sales and trading were bright spots for the bank and revenue in that part of its business increased to $1.7 billion from $1.3 billion. Investment revenue also rose after the bank sold an investment in an insurance broker. Profit at the bank's wealth management unit also rose.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

40 replies

= new reply since forum marked as read

Highlight:

Simple "Weekend Economists" October 18-20, 2013 [View all] Demeter Oct 2013 OP

And I'll raise you the Simple Dog Head Tilt Warpy Oct 2013 #1

Warpy, I can't even look it up Demeter Oct 2013 #6

Now that another "manufactured crisis" created by those very Simple People Demeter Oct 2013 #2

The chained CPI: A zombie benefit cut still walks By Michael Hiltzik Demeter Oct 2013 #12

No banks failed...yet Demeter Oct 2013 #3

The Latest in Anti-Simplicity: OBAMACARE! Demeter Oct 2013 #4

Simple pleasures, simply dancing Tansy_Gold Oct 2013 #5

Lordy! Where did you dig that up? I didn't know Hope was a hoofer! Demeter Oct 2013 #7

Dancing -- totally off topic Tansy_Gold Oct 2013 #14

If memory serves me right... AnneD Oct 2013 #40

Nice classic! DemReadingDU Oct 2013 #11

Here's a nice simple "Lord of the Dance" (Mary O'Hara) Ghost Dog Oct 2013 #18

After Budget Fight, No Sign Of Cease-Fire by Alan Greenblatt Demeter Oct 2013 #8

Americans find little to cheer in deal to end fiscal crisis: poll Demeter Oct 2013 #9

�They�re fools � and work for fools!�: Grayson on GOP staffers (and much more) Demeter Oct 2013 #13

Google hits $1,000; Chipotle tops S&P 500 Demeter Oct 2013 #10

A Simple Reform Could Save America From Wall Street and Boost the Economy...By Lynn Stuart Parramore Demeter Oct 2013 #15

I'll be back later, with more econ, and true simple life stuff Demeter Oct 2013 #16

Musical Interlude hamerfan Oct 2013 #17

9 Signs That China Is Making A Move Against The US Dollar xchrom Oct 2013 #19

one of my absolute favorite hymns! xchrom Oct 2013 #20

The sound of rain DemReadingDU Oct 2013 #21

The Tyranny Of The Minority xchrom Oct 2013 #22

US To Fine JPMorgan $4 Billion For Selling 'Junk Mortgages' xchrom Oct 2013 #23

SEASON OF UNCERTAINTY FOR STORES xchrom Oct 2013 #24

MORGAN STANLEY THIRD-QUARTER PROFIT ALMOST DOUBLES xchrom Oct 2013 #25

Spain on �Right Track� After Tackling Labor Laws, Gurria Says xchrom Oct 2013 #26

The Not-So-Simple Obamacare Demeter Oct 2013 #27

The Programmer's Reply Demeter Oct 2013 #29

Well, When U of M sings "Hail to the Victors", It Includes Real Hail Demeter Oct 2013 #28

Twice-Snubbed Flug Nominated as Bank of Israel Governor xchrom Oct 2013 #30

How Investors Lose 89 Percent of Gains from Futures Funds xchrom Oct 2013 #31

Chinese Can't Understand Why The French Work So Little xchrom Oct 2013 #32

Ukraine Must Make A Civilization-Defining Choice Between Russia And The West xchrom Oct 2013 #33

Sorry I've been among the missing! bread_and_roses Oct 2013 #34

Obama Will Have To Rely More And More On Executive Orders xchrom Oct 2013 #35

Ibex 35 closes above 10,000 points for the first time in over two years xchrom Oct 2013 #36

Wasted EU Funds: Brussels Ignores Tip-Offs from Greek Official xchrom Oct 2013 #37

"Meet the Economic Movement That Really Deserves Praise " edited w/additional info bread_and_roses Oct 2013 #38

Well, it's after Noon on Sunday. Demeter Oct 2013 #39