Morgan Stanley (MS.N) posted a 32% fall in quarterly profit on Thursday as its advisory and wealth management businesses took a hit from the economic fallout of the COVID-19 pandemic.
The bank said earnings attributable to common shareholders fell to $1.59 billion, or $1.01 per share, in the first quarter ended March 31, from $2.34 billion, or $1.39 per share, a year ago.
Analysts had expected a profit of $1.14 per share, according to IBES data from Refinitiv. It was not immediately clear if the numbers were comparable.
Source:Â reuters.com