Morgan Stanley (MS) Tops Q1 EPS by 8c; Doubles Qtr. Dividend to 10c

(Updated - April 17, 2014 6:49 AM EDT)

Morgan Stanley (NYSE: MS) reported Q1 EPS of $0.68, $0.08 better than the analyst estimate of $0.60. Revenue for the quarter came in at $8.93 billion versus the consensus estimate of $8.52 billion.

Boosts qtr. dividend from $.05 to $.10, payable on May 15, 2014 to common shareholders of record on April 30, 2014.

Business Overview

• Institutional Securities net revenues excluding DVA were $4.5 billion8 reflecting continued strength in Equity sales and trading and Investment Banking, and improved performance in Fixed Income & Commodities sales and trading.
• Wealth Management net revenues were $3.6 billion and pre-tax margin was 19%.9 Fee based asset flows for the quarter were a record $19.0 billion, with total client assets exceeding $1.9 trillion at quarter end.
• Investment Management reported net revenues of $740 million with assets under management or supervision of $382 billion.

James P. Gorman, Chairman and Chief Executive Officer, said, “This quarter we generated higher year-over-year revenues in all three of our business segments, demonstrating the momentum we have built across the Firm. We continue to execute on our multi-year strategy to deliver consistent returns for our shareholders through revenue growth and strong expense discipline. We are pleased that this year we will commence a further share repurchase of up to $1 billion and double our dividend.”

For earnings history and earnings-related data on Morgan Stanley (MS) click here.

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