Morgan Stanley released Q1 earnings before the US stock market opened on April 18.

Earnings per share for the first quarter were $1.45 and are expected to be $1.25, according to the report.Net revenue of $11.08 billion, estimated at $10.36 billion, compared with $9.7 billion in the same period last year, with a net profit of $2.7 billion, an increase of 38% over the same period last year, setting a mass entrepreneurship and innovation record for revenue and profit.

Compensation expenses were $4.9 billion in the first quarter, compared with $4.5 billion in the same period last year, while non-compensation expenses were $2.7 billion, up from $2.5 billion in the same period a year earlier, mainly driven by higher business volumes. $469 billion in assets under management.

Source: Morgan Stanley 2018Q1 Financial report

Business highlight

• Institutional securitiesNet revenue was $6.1 billion, reflecting Morgan Stanley's strength in sales and trading concessions. Of this total, the trading department's net revenue reached $3.6 billion, up 77 per cent from a year earlier. Investment banks rank first in announced and completed mergers and acquisitions and global stocks.

• Wealth managementNet revenue was $4.4 billion, record pre-tax profit was $1.2 billion, pre-tax margin was 26.5%, and strong inflows of charged assets reached $18.2 billion in the quarter.

• Investment managementNet revenue was $718 million, reflecting an increase in management fees; long-term net flow continued to grow during the quarter.

Source: Morgan Stanley 2018Q1 Financial report

Chairman and CEO James P. Gorman said, "We have achieved very strong results in the quarter, with record revenue and net profit, and ROE is above our target range. Each of our businesses is performing well, with important customer participation in our global franchise projects and a more positive environment for sales and transactions. "

(editor / she Shitong)