Morgan Stanley Profits Surge 60% On Trading And Wealth Management Performance

April 20, 2015 1:30 PM

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Morgan Stanley Profits Surge 60% On Trading And Wealth Management Performance

Morgan Stanley Morgan Stanley CEO James Gorman is hard at work building a wealth management business to provide stability and consistent earnings for the standalone investment bank, but a strong quarter for the firm’s trading desks never hurts. On Monday, the bank reported a better-than-forecast 60% surge in first quarter earnings, bolstered by strong trading results, particularly in equities, and improving margins at its wealth management division.

Morgan Stanley reported adjusted earnings per share of $1.18 on net revenue of $9.9 billion, sharply exceeding estimates. Analysts polled by Bloomberg expected the bank to earn adjusted EPS of 78-cents on revenue of $9.19 billion.

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