Morgan Stanley (NYSE:MS) stock was up on Wednesday after releasing its earnings report for the second quarter of 2018.
Morgan Stanley’s earnings report for the second quarter of the year starts off with earnings per share of $1.30. This is a major jump over its earnings per share of 87 cents from the second quarter of 2017. It was also good news for MS stock by beating out Wall Street’s earnings per share estimate of $1.11 for the period.
During the second quarter of 2018, Morgan Stanley reported net income of $2.44 billion. The investment bank and financial services company reported net income of $1.76 billion in the same period of the year prior.
Morgan’s Stanley’s earnings report for the second quarter of the year also includes operating income of $3.11 billion. This is better than the company’s operating income of $2.64 billion that was reported in the second quarter of the previous year.
When it comes to revenue for the second quarter of 2018, Morgan Stanley’s came in at $10.61 billion. This is an improvement from its revenue of $9.50 billion that was reported during the same time last year. It was also a boon to MS stock by coming in above analysts’ revenue estimate of $10.10 billion for the quarter.
To go along with its strong earnings report for the second quarter of the year, Morgan Stanley is also increasing its quarterly dividend. It will be paying a dividend of 30 cents per share on Aug. 15, 2018 to investors on record July 31, 2018. The company’s previous quarterly dividend was 25 cents per share.
MS stock was up 3% as of Wednesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
