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2021 MS 4T Revenues

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2021 MS 4T Revenues

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James Gorman, Chairman and CEO of Morgan Stanley, speaks during an interview with Bloomberg Television in Beijing, China, Thursday, May 30, 2019.

Julia Marchi | Bloomberg | Getty Images

Morgan Stanley is expected to report fourth quarter results before the opening bell on Wednesday.

Here’s what Wall Street expects:

  • Earnings: $1.91 per share, 5.4% higher than a year earlier, according to Refinitiv
  • Revenues: $14.6 billion, 7% more than a year earlier
  • Wealth management: $6.28 billion, according to StreetAccount
  • Trading: equities $2.44 billion, fixed income $1.47 billion
  • Investment banking: $2.54 billion

How will Morgan Stanley navigate the next phase of the markets?

This is a key question as analysts anticipate when trading and deal-making will cool down after two scorching years.

Trading in particular has started to return to more normal volumes, if the results from Goldman Sachs and JPMorgan Chase are any indication. Morgan Stanley holds the world’s leading position in stock trading.

It is also a leading player in mergers advisory, particularly in the fields of technology and communications.

One area that should show resilience is wealth management, which typically relies on fees based on assets under management that have risen alongside rising markets.

The bank’s shares have fallen 4.2% this year, underperforming the 8.6% gain in the KBW banking index.

JPMorgan and Citigroup each posted the weakest earnings beats in the past seven quarters, and Goldman Sachs missed fourth-quarter earnings estimates due to high spending. Wells Fargo has been the only bright spot so far in bank earnings after setting targets to increase interest income and cut expenses.

This story is developing. Please check for updates.

2021 MS 4T Revenues

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