$MS Earnings Top, Stock Drops
Morgan Stanley is the last major bank to report earnings. And although results did top estimates, the stock still fell sharply. Let’s analyze why. 👇
First off, the company’s adjusted earnings per share of $1.38 on $13.3 billion in revenues exceeded estimates of $1.31 and $13.2 billion. The bank’s return on average tangible common shareholders’ equity (ROTCE) of 15.5% was also in line with estimates.