Morgan Stanley earnings and revenues beat analysts' expectations e the title flies to Wall Street, opening with an increase of 7% to 56,67 dollars per share and then falling back to 55,97 dollars (+5,7%).
The US quarterly season continues with Morgan Stanley, last among the big US banks to publish the results of the fourth quarter of 2019
In the three months ending in December, the New York company recorded to evaluate of $2,239 billion, up 46% from the same period in 2018, when profits were $1,531 million. L'earning per share it hit $1,3 versus 80 cents in the fourth quarter of 2018 (earnings applicable to common shareholders rose 53% to $2,085 billion) and better than the 99 cents expected by analysts. Over the entire year, net income grew by 3%, exceeding 9 billion dollars (9,042 to be precise), while that applicable to ordinary shareholders increased by 4% to 8,512 billion.
Also up sharply quarterly revenues, which rose from 8,548 to 10,857 billion dollars (+27%), while the estimates were for 9,72 billion. On the year i Net revenues instead they amounted to 41,419 billion dollars, up by 3%.
Supporting the accounts, explained Morgan Stanley, was above all the positive and better than expected performance of the asset management and investment divisions.
Results for the quarter “were solid across all business areas. Total revenues exceeded $10 billion for the fourth consecutive quarter, delivering record revenue and net income for the full year,” said the chief executive officer. James Gorman, emphasizing that “this significant performance has achieved all the targets set”.
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Returning to the accounts, the turnover of investment banking business rose 11% to $1,58 billion versus estimates for $1,52 billion, while institutional securities rose 32% to $5,05 billion versus expectations for 4,46, XNUMX billion.
Moving on to trading activity, those of equities fell by 0,5% to 1,92 billion (the only figure below the estimates of 1,93 billion), while those of fixed income more than doubled (+126%) to 1,27 billion , against expectations of 859 million. In the three months the return on capital was 11,3% and in 2019 11,7%, the Red up 13% over the three months and 13,4% over the year and book value per share was $45,82 over the quarter and year. Finally, in the last quarter of last year, Morgan Stanley repurchased its own securities for 1,5 billion of dollars and 5,4 billion in 2019. The Board has set a quarterly dividend of 35 cents per share, payable on February 14th.
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