The FINANCIAL — Morgan Stanley announced a profit for third quarter that fell compared to the same period last year, according to Nasdaq.
The company said its earnings fell to $0.74 billion, or $0.34 per share. This was down from $1.56 billion, or $0.64 per share, in last year’s third quarter.
Analysts had expected the company to earn $0.63 per share, according figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company said revenue for the quarter fell 12.8% to $7.77 billion. This was down from $8.91 billion last year.
Morgan Stanley earnings at a glance:
-Earnings (Q3): $0.74 Bln. vs. $1.56 Bln. last year.
-Earnings Decline (Y-o-Y): -52.6%
-EPS (Q3): $0.34 vs. $0.64 last year.
-EPS Decline (Y-o-Y): -46.9%
-Analysts Estimate: $0.63
-Revenue (Q3): $7.77 Bln vs. $8.91 Bln last year.
-Revenue Change (Y-o-Y): -12.8%