Ted Pick, CEO Morgan Stanley, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024.
Adam Galici | CNBC
Morgan Stanley reported second-quarter earnings before the opening bell Wednesday.
Here’s what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:
Earnings per share: $3.46 vs. $2.94 expected Revenue: $21.35 billion, vs. $19.64 billion expected
Morgan Stanley is expected to benefit from higher trading and investment banking revenue in the quarter, as rivals JPMorgan Chase and Goldman Sachs have shown in their reports.
Heightened activity fueled by the global artificial intelligence boom propelled JPMorgan and Goldman to beat estimates for equities trading by a combined $4.4 billion, while investment banking at the two firms topped estimates by a combined $1 billion.
Analysts will want to know what CEO Ted Pick has to say on the outlook for the rest of the year as geopolitical tensions remain high.
This story is developing. Please check back for updates.
