- Morgan Stanley Q4 23 – 16/01 – a late rally in the last quarter of 2023 saw US bank shares finish the year on a high, with Morgan Stanley shares recovering from a two and a half year low in October to finish close to the peaks in July, and up over 9% on the year. As last set of trading numbers the bank reported Q3 revenues of $13.3bn and profits of $1.38c a share, both of which were slightly ahead of forecasts. Drilling down into the numbers they were some notable misses, with wealth management falling short at $6.4bn, even as FICC and equities trading revenue was better than expected. Equities trading saw revenues come in at $2.51bn, and FICC at $1.95bn. For Q4 equity trading is expected to see revenues of $2.25bn and FICC of $1.5bn with overall revenues expected to see a modest rise to $12.85bn. For the full year revenues are expected to increase to $54.06bn, although higher costs are expected to see profits fall to $5.57 a share. This week's numbers will also be the last set of numbers for James Gorman who is leaving as CEO to be replaced by Edward "Ted" Pick.
