Morgan Stanley Q4 Profit Rises 10%

morganstanley oct15 19jan22 lt

Financial services firm Morgan Stanley (MS) reported Wednesday a profit for the fourth quarter that increased 10 percent from last year, reflecting 7 percent revenue growth amidst strength in Wealth Management and Investment Management business segments.

For the fourth quarter, the company reported net income applicable to the company's common shareholders of $3.59 billion or $2.01 per share, up from $3.27 billion or $1.81 per share in the year-ago quarter.

Excluding items, adjusted earnings for the quarter were $2.08 per share, compared to $1.92 per share in the year-ago quarter.

Net revenues for the quarter increased 7 percent to $14.52 billion from $13.60 billion in the same quarter last year.

Institutional Securities net revenues declined to $6.67 billion from $6.97 billion, reflecting lower equity underwriting revenues and a 31 percent drop in fixed income net revenues.

Wealth Management net revenues increased 10 percent to $6.25 billion from last year's $5.67 billion, reflecting higher asset management revenues and improved net interest income.

Investment Management net revenues were $1.75 billion, up 59 percent from $1.10 billion a year ago, driven by increased asset management and related fees amid higher average Assets Under management (AUM).

The company's provision for credit losses on loans and lending commitments was $5 million, up from $4 million in the year-ago quarter.

The company's board of directors declared a $0.70 quarterly dividend per share, payable on February 15, 2022 to common shareholders of record on January 31, 2022.

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