[ad_1]
Banking giant Morgan Stanley (NYSE: MS ) on Friday y reported lower earnings and profits for the fourth quarter of 2022. The company’s shares fell after the announcement.
Net income attributable to shareholders was $2.2 billion or $1.26 per share in the fourth quarter of 2022, compared to $3.7 billion or $2.01 per share in the same period a year ago. Adjusted earnings fell to $1.31 per share from $2.08 per share last year.
The bottom line was hurt by a 12% drop in revenue to $12.7 billion. The company has a ROTCE yield of 12.6%.
Check out this space to read management/analyst commentary on Morgan Stanley’s Q4 2022 earnings
James Gorman, Chairman, and Chief Executive Officer said, “We report solid fourth quarter results amid a difficult market environment. Overall, 2022 is a strong year for the Company as our clear strategy and balanced business model allow us to generate ROTCE of 16% despite the complex macro background.
[ad_2]
Source link