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
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 - $摩根士丹利 (MS.US)$ 股價週三漲幅7.58%,至120.728美元,創下新的歷史新高。公司今天發佈了第三季度業績,顯示該季度公司淨營業收入爲153.8億美元,超過預期的143.5億美元。機構證券、财富管理和投資管理業務的營收均超過預期。

Financial Highlights
財務亮點
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%.
第三季度淨營收爲154億美元,展示了我們綜合公司的實力,各業務板塊均取得了強勁業績。
公司在第三季度交付了17.5%的ROTCE,並在年度累計達到18.2%。
公司的費用效率比率在第三季度和年度累計均爲72%,受益於我們的規模和紀律性的費用管理,同時保持強大的基礎設施支持持續增長。
在本季度,該公司增加了21億美元的普通股一級資本,並以15.1%的標準普通股一級資本比率結束了本季度。

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.
機構證券$68億的淨收入反映了固定收入和股票業務表現強勁,客戶活動增加,投資銀行業務勢頭增強。
财富管理部門本季度稅前利潤率爲28.3%。創紀錄的$73億淨營收反映了強勁的資產管理和交易收入。本季度新增淨資產爲$640億,總客戶資產達到了$6萬億。基於費用的資產流量爲本季度的$360億,總費用資產達到了$2.3萬億。
投資管理業績反映了$15億的淨收入,主要受到資產管理收入的推動,平均AUm較高。本季度包括$70億的正長期淨流入和期末AUm達到$1.6萬億。

CEO Statement
首席執行官聲明
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.”
首席執行官泰德·皮克表示:「公司在全球的積極環境中取得了強勁的第三季度業績。機構證券業務在市場和承銷業務中看到了勢頭,在客戶積極參與的基礎上。財富和投資管理業務的總客戶資產已經超過了$7.5萬億,得益於活躍的股票市場和淨資產流入。我們的商業模式能夠創造出強勁的回報,並累積資本,截至2024年前三個季度的ROTCE達到了18.2%。我們的管理團隊繼續專注於推動持久增長,併爲股東實現長期回報。」
Related reading: Morgan Stanley Third Quarter 2024 Earnings Results
相關閱讀: 摩根士丹利2024年第三季度收益結果