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Banking giant Morgan Stanley (NYSE: MS) on Thursday reported lower earnings and revenues for the first quarter of 2022. The company’s stock gained soon after the announcement.
Morgan Stanley Q1 2022 earnings infographic
Net income applicable to shareholders was $3.7 billion or $2.02 per share in the first quarter of 2022, compared to $4.1 billion or $2.19 per share in the same period a year ago.  Adjusted earnings dropped to $2.06 per share from $2.22 per share last year.
The bottom line was hurt by a 6% decrease in revenues to $14.8 billion. Advisory revenues nearly doubled from a year ago driven by higher levels of completed M&A transactions, while equity underwriting revenues significantly decreased on lower issuances in line with market volumes in an uncertain market environment.
Check this space to read management/analysts’ comments on Morgan Stanley’s Q1 2022 earnings
Shares of Morgan Stanley gained early Thursday following the earnings announcement, after closing the last session higher.
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