Analysts had forecast quarterly net income of $2.92 billion, or $1.63 per share.
Net revenues for the quarter were $14.5 billion, down 2 per cent from $14.8 billion a year earlier, but ahead of analysts’ expectations of $14.1 billion. “The events of March, which shouldn’t surprise you, did create an environment where some of that cash that we would have seen in deposits moved into cash-like equivalents, so money market [funds], Treasuries,” Morgan Stanley chief financial officer Sharon Yeshaya said. “The money is largely staying within the four walls of Morgan Stanley as far as we can see it and that’s evidenced by our client assets.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: IrishTimes - 🏆 3. / 98 Read more »