Morgan Stanley: expectations beaten in fourth quarter.

(CercleFinance.com) - Morgan Stanley reported fourth-quarter earnings of 1.
7 billion dollars, or 0.81 dollar per share, against a consensus of 65 cents.

Revenues rose by 17% to 9 billion dollars for the quarter ended 31 December 2016, including net revenues of 4.6 billion dollars for the "Institutional Securities" division, which focuses on financial markets.

"We reported solid results in sales & trading and advisory, and record revenues in wealth management, while managing expenses prudently," said chairman and CEO James P. Gorman.

"We are optimistic about opportunities in 2017 and beyond and remain focused on serving our clients and achieving our strategic objectives," he added.

For the full year, Morgan Stanley disclosed net revenues of 34.6 billion dollars, menaing earnings per share of 2.92 dollars.

Morgan Stanley shares are down 2.2% at 42.8 dollars in early trading on the NYSE, despite these strong results.

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