Morgan Stanley Q3 Profit Up 15%, Results Top Estimates

(RTTNews) - Financial services firm Morgan Stanley (MS) reported Tuesday that net income applicable to the company's common shareholders for the first quarter increased to $3.27 billion or $2.02 per share from $2.84 billion or $1.70 per share in the year-ago quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $1.66 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the quarter increased 4 percent to $15.14 billion from $12.99 billion in the same quarter last year. Analysts expected revenues of $14.41 billion for the quarter.

The company's board of directors declared a $0.85 quarterly dividend per share, payable on May 15, 2024 to common shareholders of record on April 30, 202r.

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