The Traderszone Network

Published in TZ Latest News 20 July, 2015 by The TZ Newswire Staff

Morgan Stanley profit falls on compensation costs, tax provision

Morgan Stanley, the last big U.S. bank to report second-quarter earnings, said its net income from continuing operations applicable to the company fell to $1.67 billion, or 85 cents per share, from $1.82 billion, or 92 cents per share, a year earlier. Analysts on average had expected earnings of 74 cents per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported figures were comparable. Consolidated net revenue rose 13 percent to $9.74 billion, with wealth management revenue increasing 4.7 percent to $3.88 billion.