logo
  

Morgan Stanley Q3 Net Profit Down 29%

Financial services firm Morgan Stanley (MS) reported Friday third-quarter net income applicable to the company's shareholders of $2.63 billion or $1.47 per share, down from $3.71 billion or $1.98 per share in the year-ago quarter.

Excluding items, adjusted earnings for the quarter were $1.53 per share, compared to $2.04 per share in the year-ago quarter.

Net revenues for the quarter decreased 12 percent to $12.99 billion from $14.75 billion in the same quarter last year.

Net interest income increased 22 percent to $2.51 billion and non-interest income declined 17 percent to $10.48 billion from last year. Total non-interest expenses decreased 3 percent to $9.56 billion from last year.

The company's provision for credit losses was $35 million, up 46 percent from $24 million in the year-ago quarter.

The company's board of directors declared a $0.775 quarterly dividend per share, payable on November 15, 2022 to common shareholders of record on October 31, 2022.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Baltimore, Maryland-based Fresh Ideation Food Group LLC is recalling certain sandwiches and other products sold under various brands, citing the potential to be contaminated with Listeria monocytogenes, the U.S. Food and Drug Administration said. The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for ready-to-eat or RTE stuffed chicken product citing that it may not be fully cooked due to underprocessing. The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for Wegmans frozen chicken products citing misbranding and an undeclared cashews, a known allergen. The affected products are 10-oz. containers of "Wegmans Chicken Korma with Basmati Turmeric Rice" with Best By 08 NOV 2023.
Follow RTT