The quarterly session of the big US banks closes with a sharp note. It is that of Morgan Stanley, which closes the June-September period with a leap in profits of 88% on an annual basis, beating analysts' estimates.
The Bank earned $1,71 billion in profits, or 84 cents a share, up from $906 million in the same period last year, or 45 cents a share. Analysts had expected a much lower result: 54 cents per share.
Revenue climbed 12% to $8,907 billion from $7,95 billion in the same period last year, exceeding the $8,17 billion expected by consensus.
In terms of ratios, Morgan Stanley has a common equity tier 1 ratio of 14,3% and a tier 1 ratio of 16,1%. Book value per share is $34,17 and tangible book value is expected to be $29,25 per share.
