RSS   Newsletter   Contact   Advertise with us

Morgan Stanley net revenues $9 billion

Staff Writer | January 17, 2017
Morgan Stanley reported net revenues of $9 billion for the fourth quarter ended December 31, 2016 compared with $7.7 billion a year ago.
Morgan Stanley
Banking   $0.81 per diluted share
For the current quarter, net income applicable to Morgan Stanley was $1.7 billion, or $0.81 per diluted share compared with income of $908 million, or $0.39 per diluted share, for the same period a year ago.

POST forecast was EPS $0.70, revenue $8.50 billion.

The prior year quarter included DVA losses of $124 million. Excluding DVA in the prior year quarter, net revenues were $7.9 billion and income applicable to Morgan Stanley was $986 million, or $0.43 per diluted share.

Compensation expense of $4.1 billion increased from $3.7 billion a year ago primarily driven by higher revenues.

Non-compensation expenses of $2.7 billion compared with $2.6 billion a year ago.

The effective tax rate for the current quarter was 25.2%, which reflected net discrete tax benefits of $135 million primarily related to the remeasurement of reserves and related interest due to new information regarding the status of a multi-year tax authority examination.

The annualized return on average common equity was 8.7 percent in the current quarter.