In the first three months of 2015, Morgan Stanley's net earnings fell 53 percent over the same period a year earlier, down to $1,1 billion or 55 cents a share for a turnover. In the first quarter of 2015, profits of the American bank had been 2,4 billion. Revenues settled at $7,8 billion, down from $9,9 billion in the same period a year earlier.
Profits in the first quarter of last year had however benefited from one-off items relating, for 564 million, to parked profits repatriated at lower costs than previously estimated and to value adjustments of the debt component for 125 million. Excluding these two extraordinary items, earnings had been 1,8 billion or 85 cents a share.
Although the result was therefore largely negative, the figure was clearly better than the expectations of analysts who had forecast profits of 46 cents per share on a turnover of 7,88 billion.
After the presentation of the quarterly, the title of the US giant loses 0,2% on the Nyse.
