- The stock price of Morgan Stanley (NYSE: MS) increased by over 4% during intraday trading today. This is why.
The stock price of Morgan Stanley (NYSE: MS) increased by over 4% during intraday trading today. Investors are responding positively to the company’s first-quarter results.
Morgan Stanley had reported net revenues of $14.8 billion for the first quarter ended March 31, 2022, compared with $15.7 billion a year ago. And the net income applicable to Morgan Stanley was $3.7 billion, or $2.02 per diluted share, compared with a net income of $4.1 billion, or $2.19 per diluted share, for the same period a year ago.
“The Firm delivered a strong ROTCE of 20% in the face of market volatility and economic uncertainty, demonstrating the resilience of our global diversified business. Institutional Securities navigated volatility on behalf of clients extraordinarily well, Wealth Management’s margin proved resilient and the business added $142 billion net new assets in the quarter, and Investment Management benefited from its diversification. The quarter’s results affirm our sustainable business model is well-positioned to drive growth over the long term.”
— James P. Gorman, Chairman and Chief Executive Officer
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