(Morgan Stanley) Morgan Stanley earned a net income of $3.7 billion in the first quarter of 2022, a decline from an income of $4.1 billion from the prior year.
The diluted EPS was reported at $2.02, compared to a diluted EPS of $2.19 in the prior year.
The earnings in the first quarter were reported from net revenues of $14.8 billion, down from revenues of $15.7 billion in the prior year. The revenue was still the second highest in a quarter.
Morgan Stanley said it delivered a robust ROTCE of 19.8% amid a highly volatile and uncertain market environment.
The bank reported an investment-banking revenue of $1.63 billion in the quarter, down from $2.61 billion in the prior year. The revenue also missed estimates of $1.8 billion.
The wealth management had a revenue of $5.94 billion, slightly lower from the prior year while the bank’s investment-management unit reported a revenue of $1.34 billion in the first quarter. Fixed-income trading revenue was down 1.4% to $2.92 billion.
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