As indicated by earningswhispers.com, Morgan Stanley should report earnings per share (EPS) of $0.79, beating the Street by $0.05. In last year’s second quarter, net earnings were 92 cents per share and net revenue was $8.6 billion excluding DVA. Analysts polled by Thomson Reuters had expected earnings of 74 USA cents a share. It was not immediately clear if the reported figures were comparable.
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Total net revenue at the bank rose to $9.74 billion from $8.61 billion.
Shares in Morgan Stanley were up 3.9% in pre-market trading.
On Monday morning, Mr. Pruzan is slated to discuss details of results including trading revenue that totaled $3.5 billion in the quarter, up 32% from $2.65 billion in the same period a year ago.
The investment bank and asset management firm said Monday that it earned $1.67 billion.
Profit jumped at Morgan Stanley’s institutional securities division, which includes its investment bank, and its stock, bond and commodities trading desks.
JPMorgan, Wells Fargo, Bank of America, Goldman Sachs, and Citigroup reported second-quarter earnings last week.
Profit in Morgan Stanley’s wealth-management arm was $561 million compared with $471 million previous year. It has also managed to beat its sales estimates during seven of these eight quarters. Morgan Stanley had $403 billion in assets under management in the segment as of the end of the quarter, compared to last year’s $399 billion. Morgan Stanley executives have pledged to lift return on equity above 10%. In the past week, the shares have outperformed the S&P 500 by 1.59% and the outperformance increases to 1.31% for the last 4 weeks.
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