From CNBC:

Morgan Stanley reported fourth-quarter earnings with earnings per share at 85 cents, falling short of the expected $1.01. Revenue came in at $12.9 billion, slightly beating the expected $12.7 billion. This is the first earnings report under new CEO Ted Pick, who succeeded James Gorman at the start of 2024. The results included charges related to a Federal Deposit Insurance Corporation special assessment and a legal charge to settle a criminal investigation and a Securities and Exchange Commission probe, causing shares to fall nearly 4% in 2024.

The new CEO, Ted Pick, expressed confidence in the firm’s strategy and leadership team, despite a mixed market backdrop and various challenges. Pick, a Morgan Stanley veteran, is focused on achieving long-term financial goals and delivering value for shareholders. The bank is committed to continuing to deliver solid results despite recent setbacks, as demonstrated by their earnings report.

Morgan Stanley’s fourth-quarter earnings report marks the first under new CEO Ted Pick, who is taking over from James Gorman at the start of 2024. Despite challenges in the market, the bank reported solid results, with earnings per share of 85 cents and revenue of $12.9 billion. The results also included charges related to a special assessment and a legal charge to settle investigations, causing shares to fall nearly 4% in 2024.

The new CEO, Ted Pick, is confident in the firm’s strategy and leadership team, emphasizing a focus on achieving long-term financial goals. Despite challenges, the bank is committed to delivering value for shareholders. The earnings report is a testament to the bank’s ability to navigate a mixed market backdrop and various headwinds.

Morgan Stanley reported fourth-quarter earnings that fell short of Wall Street expectations, with earnings per share at 85 cents and revenue at $12.9 billion. The results, which include charges related to a special assessment and legal settlement, resulted in a nearly 4% decline in shares. The bank’s new CEO, Ted Pick, expressed confidence in the firm’s strategy and leadership team, prioritizing long-term financial goals and delivering for shareholders.



Read more: Morgan Stanley earnings Q4 2023