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Tuesday, March 5, 2024

Morgan Stanley’s Earnings Fall 9% on Lower Investment-Banking Revenue

Morgan Stanley’s Earnings Fall 9% on Lower Investment-Banking Revenue


Morgan Stanley said third-quarter profit fell 9% from a year ago, hit by a sharp decline in deal making.

Investment-banking revenue dropped 27% to $938 million. Fees from advising corporate clients on mergers and acquisitions fell by more than 30%. So did revenue from underwriting bond offerings. The bank did post an increase in equity underwriting. 

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