After the published Q2 report, Morgan Stanley (MS) stock price is rising. As the market opened today MS stock is 0.78% up.
Morgan Stanley (NYSE: MS) has published its Q2 2020 earnings results. The net revenues turned out to be better than a year ago despite teh current economic situation in the world. This year the figures have reached $13.4 billion while in 2019 Q2 the net revenues of Morgan Stankey were $10.2 billion.
Morgan Stanley earnings managed to achieve $1.96 a share, while Wall Street analysts forecasted $1.17 a share. At the same time revenue was expected to be closer to the 2019 Q2 results and almost $3 billion lower than it turned out to be. The forecast was $10.78 billion.
Speaking on the Q2 results, James P. Gorman, Morgan Stanley Chairman and CEO, stated:
“Our decade long business transformation was intended to provide stability during times of serious stress. The second quarter tested the model and we performed exceedingly well, delivering record results. This builds on the momentum of a very strong first quarter, while more than 90% of our employees continue to work from home, demonstrating the ongoing operational resilience of our platform.”
After the published Q2 report, Morgan Stanley (MS) stock was up 1.27% in the pre-market, reaching the level of $52.00. Though the stock has managed to recover from its April low of around $30, it is still far away from the ATH of around $89. As the market opened today MS stock is 0.78% up.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.