Morgan Stanley posts strong Q1 2010 earnings

The New York-based financial intermediary Morgan Stanley reported strong first quarter earnings today, beating Wall Street analyst expectations.

Morgan Stanley reported total revenue net of all charges as $9.08-billion, compared to $2.9-billion in the same period last year. Analysts were expecting about $7.9-billion in revenue.

The company said total profits in the quarter were $1.41-billion ($0.99 per share), up significantly compared to the first quarter of 2009 when the company reported a massive $580-million quarterly loss.

Most of this quarters earnings resulted from the capital markets division.

The company reported total revenue from its investment banking business were $887-million, compared to $811-million in the same period last year. The increase in revenue was a reflection of the company underwriting more public issuances.

Some of the bigger highlights in the quarter were that sales and trading revenues (net of all charges) were $4.1-billion, compared to only $1.4-billion in Q1 2009.

A conference call to discuss the earnings is scheduled to take place at 11am.

The Morgan Stanley stock (NYSE:MS) is trading 3.81-percent up to $31.81 per share in early morning trading just before 10am.


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Peggy holds a Bachelor Arts degree with honors in Economics from York University in Toronto, Canada. She is a Certified Management Accountant (CMA). She has also passed Level I of the Chartered Financial Analyst (CFA) Program. She is also a realtor. Write to peggy@business2press.com
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