Morgan Stanley Q4 Results Get Boost From Equity Revenue, IPO Activity | Global News Avenue

Morgan Stanley (multiple sclerosisShares rose on Thursday after the bank posted better-than-expected results as revenue from its equities trading unit soared and investors poured more money into Initial Public Offering (IPO).

Morgan Stanley releases fourth quarter earnings Earnings per share (EPS) $2.22, nearly triple what it was a year ago. Revenue increased 26% year over year to $16.22 billion. Both handily beat consensus forecasts from analysts surveyed by Visible Alpha.

Client activity increases, equity net income soars

Equity net income rose 51% to $3.33 billion, driven by gains across the company’s business lines and geographies, with Morgan Stanley citing increased client activity, particularly in its prime brokerage business and in Asia. Equity underwriting revenue doubled to $455 million, which the company said was driven by “an increase in the number of follow-on offerings and initial public offerings as clients strategically raise capital in a more constructive environment.” . Strong stock market gains pushed asset management and related fees up 11% to $1.56 billion.

CEO Ted Pick calls it ‘a great fourth quarter’ with approval rating at 20% Return on Tangible Common Equity (ROTCE) This was “after three-quarters of a sustained execution.”

Shares of Morgan Stanley were up 2.5% on Thursday morning, approaching the all-time high set in late November.