Market Mover | Morgan Stanley Shares Up 7% to Record High on Strong Q3 Earnings Beat
Market Mover | Morgan Stanley Shares Up 7% to Record High on Strong Q3 Earnings Beat
The Firm delivered ROTCE of 17.5% during the third quarter and 18.2% year-to-date.October 16, 2024 - $Morgan Stanley (MS.US)$ shares increased 7.58% to $120.728 on Wednesday, reaching a new all-time high. The company today released its third-quarter earnings report, showing that the company's net revenue for the quarter was $15.38 billion, surpassing the anticipated $14.35 billion. Revenue from Institutional Securities, Wealth Management and Investment Management all exceeded expectations.
2024年10月16日 - $摩根士丹利 (MS.US)$ 股价周三涨幅7.58%，至120.728美元，创下新的历史新高。公司今天发布了第三季度财报，显示该季度公司净营业收入为153.8亿美元，超过预期的143.5亿美元。机构证券、财富管理和投资管理业务的营收均超过预期。
Financial Highlights
财务亮点
Net revenues for the third quarter were $15.4 billion, demonstrating the strength of our Integrated Firm with strong results across our business segments.
The Firm delivered ROTCE of 17.5% during the third quarter and 18.2% year-to-date.
The Firm expense efficiency ratio was 72% for both the third quarter and year-to-date, benefiting from our scale and disciplined expense management while maintaining strong infrastructure to support ongoing growth.
During the quarter, the Firm accreted $2.1 billion of Common Equity Tier 1 capital and ended the quarter with a Standardized Common Equity Tier 1 capital ratio of 15.1%.
第三季度净营收为154亿美元，展示了我们综合公司的实力，各业务板块均取得了强劲业绩。
公司在第三季度交付了17.5%的ROTCE，并在年度累计达到18.2%。
公司的费用效率比率在第三季度和年度累计均为72%，受益于我们的规模和纪律性的费用管理，同时保持强大的基础设施支持持续增长。
在本季度，该公司增加了21亿美元的普通股一级资本，并以15.1%的标准普通股一级资本比率结束了本季度。
Institutional Securities net revenues of $6.8 billion reflect strong performance in Equity and Fixed Income on higher client activity and increased momentum in Investment Banking.
Wealth Management delivered a pre-tax margin of 28.3% for the quarter. Record net revenues of $7.3 billion reflect strong asset management and transactional revenues. The business added net new assets of $64 billion in the quarter and total client assets reached $6 trillion. Fee-based asset flows were $36 billion for the quarter and total feebased assets reached $2.3 trillion.
Investment Management results reflect net revenues of $1.5 billion, primarily driven by asset management revenues on higher average AUM. The quarter included positive long-term net flows of $7 billion and end-of-period AUM of $1.6 trillion.
机构证券$68亿的净收入反映了固定收入和股票业务表现强劲，客户活动增加，投资银行业务势头增强。
财富管理部门本季度税前利润率为28.3%。创纪录的$73亿净营收反映了强劲的资产管理和交易收入。本季度新增净资产为$640亿，总客户资产达到了$6万亿。基于费用的资产流量为本季度的$360亿，总费用资产达到了$2.3万亿。
投资管理业绩反映了$15亿的净收入，主要受到资产管理收入的推动，平均AUm较高。本季度包括$70亿的正长期净流入和期末AUm达到$1.6万亿。
CEO Statement
首席执行官声明
Ted Pick, Chief Executive Officer, said, “The Firm reported a strong third quarter in a constructive environment across our global footprint. Institutional Securities saw momentum in the markets and underwriting businesses on solid client engagement. Total client assets have surpassed $7.5 trillion across Wealth and Investment Management supported by buoyant equity markets and net asset inflows. Our business model is delivering strong returns while accreting capital, producing an ROTCE of 18.2% through the first three quarters of 2024. Our management continues to be focused on driving durable growth and realizing long-term returns for our shareholders.”
首席执行官泰德·皮克表示：“公司在全球的积极环境中取得了强劲的第三季度业绩。机构证券业务在市场和承销业务中看到了势头，在客户积极参与的基础上。财富和投资管理业务的总客户资产已经超过了$7.5万亿，得益于活跃的股票市场和净资产流入。我们的商业模式能够创造出强劲的回报，并累积资本，截至2024年前三个季度的ROTCE达到了18.2%。我们的管理团队继续专注于推动持久增长，并为股东实现长期回报。”
Related reading: Morgan Stanley Third Quarter 2024 Earnings Results
相关阅读： 摩根士丹利2024年第三季度收益结果
