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Morgan Stanley Q2 net revenues down to $8.9 billion

Staff Writer | July 20, 2016
Morgan Stanley reported net revenues of $8.9 billion for the second quarter ended June 30, 2016 compared with $9.7 billion a year ago.
Morgan Stanley
Morgan Stanley   Compensation expense was $4 billion
For the current quarter, net income applicable to Morgan Stanley was $1.6 billion, or $0.75 per diluted share, compared with income of $1.8 billion, or $0.85 per diluted share,6 for the same period a year ago.

The prior year quarter included DVA revenue of $182 million. Excluding DVA in the prior year quarter, net income applicable to Morgan Stanley was $1.7 billion, or $0.79 per diluted share.

Compensation expense of $4 billion decreased from $4.4 billion a year ago partially driven by lower revenues. Non-compensation expenses of $2.4 billion decreased from $2.6 billion a year ago. Results reflect execution of the Firm’s disciplined expense management strategy.

The annualized return on average common equity was 8.3 percent in the current quarter.


 

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