Morgan Stanley (MS)

Morgan Stanley Earnings Up on Record Brokerage Fee

Morgan Stanley said its fourth-quarter earnings rose 35 percent on record revenue from its brokerage, the world’s biggest. Net income rose to $836 million, or 41 cents a share, from $617 million, or 29 cents, a year earlier. Earnings from continuing operations, excluding a 17-cent gain on the sale of a stake in China International Capital Corp. and a tax gain of about 6 cents, were 20 cents a share.
The revenues and retail brokerage profits were higher than expected, validating the bank's strategy of bolstering businesses that are less threatened by tougher regulation after the financial crisis.

Jan 20 · 3:45:00 PM
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by Larry Etter