MS Morgan Stanley reports Q4 EPS 84c, consensus 77c
Reports Q4 revenue $9.5B, consensus $9.19B.
Morgan Stanley CEO: We enter 2018 with strong momentum
James P. Gorman, Chairman and CEO, said, "Over the course of the full year we achieved the strategic objectives outlined two years ago. In 2017, pre-tax earnings grew by 18%, driven by a 10% increase in revenues, with growth across all our business segments. This, coupled with strong expense discipline demonstrates the Firm's operating leverage. We enter 2018 with strong momentum aided by rising interest rates, tax reform and an evolving regulatory framework
Morgan Stanley reports total client assets were $2.4T at Q4-end
Total client assets were $2.4T and client assets in fee-based accounts were $1T at the end of the quarter. Fee-based asset flows for the quarter were $20.9B. Wealth Management representatives of 15,712 produced average annualized revenue per representative of $1.1M in the current quarter.
Morgan Stanley reports Common Equity Tier 1 ratio approximately 16.5%
As of December 31, 2017, the Firm's Common Equity Tier 1 and Tier 1 risk-based capital ratios under Standardized Approach transitional provisions were approximately 16.5% and 18.9%, respectively
Morgan Stanley reports Common Equity Tier 1 ratio approximately 16.5%
As of December 31, 2017, the Firm's Common Equity Tier 1 and Tier 1 risk-based capital ratios under Standardized Approach transitional provisions were approximately 16.5% and 18.9%, respectively.
Morgan Stanley reports Q4 adjusted EPS 84c, consensus 77c
Excluding net discrete tax items, net income applicable to Morgan Stanley was $1.7B, or 84c per diluted share compared with net income of $1.5B, or 74c per diluted share, for the same period a year ago. In the current quarter, the Firm recorded a net discrete tax provision of $990M, comprised of an approximate $1.2B net discrete tax provision as a result of the enactment of the Tax Cuts and Jobs Act, primarily from the remeasurement of certain net deferred tax assets using the lower enacted corporate tax rate, partially offset by an approximate $168M net discrete tax benefit primarily associated with the remeasurement of reserves and related interest relating to the status of multi-year Internal Revenue Service tax examinations.
MS market passes GS per Bloomberg
