One of the largest US investment banks posted its promising quarterly results
Morgan Stanley reported first-quarter 2021 EPS and revenue that beat expectations. The company revealed an adjusted EPS of $2.22 on revenues of $15.7 billion. Analysts were expecting an EPS of $1.70 and revenues of $14.1 billion.
Moreover, the investment bank’s revenue jumped 128% to $2.61 billion, leaving far behind the $500 million forecasted, with most of it coming from record equity underwriting revenues.
Despite the better-than-expected results, Morgan Stanley stock price was trading 0.46% lower at the time of writing.
Sources: finance.yahoo.com, cnbc.com