Morgan Stanley's Q2 revenue grows 27% to $21.3B, beats estimates

 Morgan Stanley's net revenue went up 27% year-on-year to $21.3 billion in the second quarter, the bank reported on Wednesday.

Meanwhile, net income amounted to $5.6 billion, rising by 58% annually, while diluted earnings per share jumped 62% to $3.46. The Institutional Securities revenue improved by 44% to $11.0 billion, Wealth Management grew by 14% to $8.9 billion, while the Investment Management arm recorded revenues of $1.6 billion, up 6%. A return on tangible common equity (ROTCE) was 26.6% for the quarter.

Following the release of the numbers, the bank's shares increased 1.46% to sell for $230.87 in premarket at 7:38 am ET.

https://breakingthenews.net/Article/Morgan-Stanley's-Q2-revenue-grows-27-to-dollar21.3B-beats-estimates/66701865