5 Key Quarterly Reports from The Financial Sector

4. Morgan Stanley (NYSE:MS)

Number of Hedge Fund Holders: 61

Shares of Morgan Stanley (NYSE:MS) slightly moved down on Thursday, July 14, 2022, after missing financial expectations for the second quarter. The New York-based bank reported earnings of $1.39 per share, well below $1.85 per share in the comparable period of 2021.

Revenue also fell 11 percent on a year-over-year basis to $13.13 billion. Analysts were expecting Morgan Stanley (NYSE:MS) to report earnings of $1.53 per share on revenue of $13.48 billion.

Morgan Stanley (NYSE:MS) also released its segment-wise sales results. Revenue from the Institutional Securities segment decreased to $6.1 billion in the quarter, from $7.1 billion in the year-ago period. In comparison, Wealth Management revenue slipped to $5.7 billion from $6.1 billion last year, while Investment Management revenue dropped to $1.4 billion from $1.7 billion in the year-ago quarter.

Speaking on the results, CEO James P. Gorman said in a statement:

“Overall the Firm delivered a solid quarter in what was a more volatile market environment than we have seen for some time. Strong results in Equity and Fixed Income helped partially counter weaker investment banking activity.”