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Morgan Stanley (MS) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2024, Morgan Stanley (MS - Free Report) reported revenue of $15.02 billion, up 11.6% over the same period last year. EPS came in at $1.82, compared to $1.24 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $14.18 billion, representing a surprise of +5.95%. The company delivered an EPS surprise of +10.30%, with the consensus EPS estimate being $1.65.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Morgan Stanley performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Book value per common share: $56.80 versus the five-analyst average estimate of $56.16.
Return on average common equity: 13% compared to the 11.8% average estimate based on four analysts.
Wealth Management - Total client assets: $5,690 billion compared to the $5,520.24 billion average estimate based on two analysts.
Total assets under management: $1,518 billion versus the two-analyst average estimate of $1,513.86 billion.
Revenues- Investment banking: $1.39 billion compared to the $1.48 billion average estimate based on four analysts. The reported number represents a change of +20% year over year.
Revenues- Commissions and fees: $1.18 billion versus the four-analyst average estimate of $1.15 billion. The reported number represents a year-over-year change of +8.5%.
Net revenues- Investment Management: $1.39 billion versus $1.41 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
Net revenues- Institutional Securities: $6.98 billion versus the four-analyst average estimate of $6.23 billion. The reported number represents a year-over-year change of +23.5%.
Net interest Revenue: $2.07 billion compared to the $1.91 billion average estimate based on four analysts. The reported number represents a change of +2.8% year over year.
Revenues- Other: $322 million versus the four-analyst average estimate of $575.06 million. The reported number represents a year-over-year change of -34%.
Revenues- Asset management: $5.42 billion versus $5.30 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +57.1% change.
Revenues- Wealth Management- Asset management: $3.99 billion compared to the $3.85 billion average estimate based on three analysts. The reported number represents a change of +15.6% year over year.
Shares of Morgan Stanley have returned +8.5% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Morgan Stanley (MS) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2024, Morgan Stanley (MS - Free Report) reported revenue of $15.02 billion, up 11.6% over the same period last year. EPS came in at $1.82, compared to $1.24 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $14.18 billion, representing a surprise of +5.95%. The company delivered an EPS surprise of +10.30%, with the consensus EPS estimate being $1.65.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Morgan Stanley performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Book value per common share: $56.80 versus the five-analyst average estimate of $56.16.
- Return on average common equity: 13% compared to the 11.8% average estimate based on four analysts.
- Wealth Management - Total client assets: $5,690 billion compared to the $5,520.24 billion average estimate based on two analysts.
- Total assets under management: $1,518 billion versus the two-analyst average estimate of $1,513.86 billion.
- Revenues- Investment banking: $1.39 billion compared to the $1.48 billion average estimate based on four analysts. The reported number represents a change of +20% year over year.
- Revenues- Commissions and fees: $1.18 billion versus the four-analyst average estimate of $1.15 billion. The reported number represents a year-over-year change of +8.5%.
- Net revenues- Investment Management: $1.39 billion versus $1.41 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.2% change.
- Net revenues- Institutional Securities: $6.98 billion versus the four-analyst average estimate of $6.23 billion. The reported number represents a year-over-year change of +23.5%.
- Net interest Revenue: $2.07 billion compared to the $1.91 billion average estimate based on four analysts. The reported number represents a change of +2.8% year over year.
- Revenues- Other: $322 million versus the four-analyst average estimate of $575.06 million. The reported number represents a year-over-year change of -34%.
- Revenues- Asset management: $5.42 billion versus $5.30 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +57.1% change.
- Revenues- Wealth Management- Asset management: $3.99 billion compared to the $3.85 billion average estimate based on three analysts. The reported number represents a change of +15.6% year over year.
View all Key Company Metrics for Morgan Stanley here>>>Shares of Morgan Stanley have returned +8.5% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.