Morgan Stanley Earnings Miss Estimates as Revenue Falls – NYTimes.com

Morgan Stanley Earnings Miss Estimates as Revenue Falls – NYTimes.com.

Nader Nazemi-Morgan Stanley

Morgan Stanley

Morgan Stanley appear to be doing well. But for how long ?

Morgan Stanley said on Thursday that it swung to a profit in the second quarter, but its revenue fell as the firm contended with the doldrums that have descended on the banking industry.

The firm said it earned $563 million from continuing operations in the second quarter. That amounted to about 28 cents a share, missing analysts’ estimates. On average, analysts expected the company to earn 43 cents a share, according to Thomson Reuters.
Excluding certain one-time gains, the company reported that revenue fell to $6.6 billion from $9 billion in the period a year earlier. Including adjustments, revenue fell to $6.95 billion from $9.2 billion in the year-ago quarter.
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