Morgan Stanley reported first-quarter earnings that topped Wall Street estimates due to solid revenue gains from trading, according to a press release by Morgan Stanley on Thursday.

  • The company’s Q1 earnings per share was $2.02, higher than an estimate of $1.68. Total revenues for the quarter rose to $14.8B, better than the estimate of $14.2B.
  • The New York-based Bank posted stronger-than-expected revenue from equity and fixed income trading amid volatile markets and increased finalized M&A transactions.
  •  Morgan Stanley’s equity trading revenue stood at $3.2B, higher than an estimate of $2.7 billion. Fixed income revenue amounted to $2.9B for the quarter, surpassing estimate of $2.2B.
  • James Gorman, chairman, and CEO of Morgan Stanley, stated that the bank delivered a solid return on common shareholders’ equity amid market volatility and economic uncertainty.

The bank still struggled in some parts of the business, with net income of $3.7 billion, which is 8% lower than the $4.1 billion, reported a year ago. MS up +1.51%, GS up +1.86%, Pre-market trading