Morgan Stanley (NYSE:MS) outlined its third quarter earnings results on Thursday 15th October 2020 before market open.
Morgan Stanley outlined quarterly income of $ 1.66 per share, from the revenue of $ 11,657.00 million. The current quarter earnings included intermittent net discrete tax benefits of $ 113 million which had an impact of $0.07 per diluted share.
The consensus estimate are $ 1.28 income per share from revenues of $ 10636.90 million.
The third quarter financial report outlined, earnings beat street analysts by $ 0.38 or 29.69 percent, where as revenues outshined analysts estimates by $ 1,020.10 million or 9.59 percent.
On the other hand, The quarterly earnings increased 30.71 percent compared with the same quarter last year, at the same time revenues extended 16.20 percent versus third quarter of last year.
James P. Gorman, Chairman and Chief Executive Officer, said, We delivered strong quarterly earnings as markets remained active through the summer months, and our balanced business model continued to deliver consistent, high returns. The completion of the E*TRADE acquisition, the subsequent ratings upgrade from Moodys, and the recently announced acquisition of Eaton Vance significantly strengthen our Firm and position us well for future growth.
