Morgan Stanley capped quarterly earnings from big U.S. banks with a higher-than-...
Morgan Stanley also booked losses from its investments in the IPO market, but M&A advisory and fixed income underwriting more than made up for the shortfall.
Gorman, however, added that he remained cautious given the ongoing trade talks between the United States and China and low interest rate environment. Analysts were expecting a profit of $1.11 per share on revenue of $9.6 billion, according to IBES data from Refinitiv.
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