Morgan Stanley logs record Q3, driven by trading, investment banking
Morgan Stanley just posted its best-ever third quarter, pulling in $18.22 billion in revenue—up 18.5% from last year and beating Wall Street's expectations by a wide margin.
Profits hit $2.80 per share, a 49% jump, which sent the stock up about 4.6% after slight declines over the past month.
Trading and investment banking boost revenue
This strong showing comes from big wins in trading, investment banking, and wealth management.
With more deal-making and trading action than expected, Morgan Stanley outperformed even its own targets, showing it can really make the most of a hot market.
Surge in capital markets powers record results
A surge in capital markets—think more IPOs and mergers—plus high trading volumes, powered these record results.
While costs are still something to watch, Morgan Stanley's ability to deliver when the market's buzzing is clear.