Morgan Stanley exceeded third-quarter profit and revenue expectations, reporting higher-than-forecast earnings per share and overall revenue. Profit rose more than 30%, and revenue increased 16%. Morgan Stanley benefited from favorable conditions, including strong markets that boosted its wealth management business, a rebound in investment banking, and solid trading activity. The Federal Reserve’s rate cuts during the quarter are expected to stimulate more financing and merger activity, aiding Wall Street firms.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Morgan Stanley exceeded third quarter profit and revenue expectations,
00:05reporting higher than forecast earnings per share and overall revenue.
00:09Profit rose more than 30 percent and revenue increased 16 percent.
00:13Morgan Stanley benefited from favorable conditions, including strong markets that
00:18boosted its wealth management business, a rebound in investment banking, and solid trading activity.
00:23The Federal Reserve's rate cuts during the quarter are expected to simulate more
00:27financing and merger activity, aiding Wall Street firms.
00:30For all things money, visit Benzinga.com slash GSTV.