Morgan Stanley's profit has fallen by 23% since the beginning of the year

According to the statements of the Morgan Stanley bank holding company, the bank's net profit attributable to shareholders in the period from January to September 2022 decreased by 23% compared to the same period in 2021 and amounted to $8.427 billion.

Diluted earnings per share were $4.88 versus $6.02 a year earlier. Net revenue decreased by 10% to $40.919 billion.

According to the results of the third quarter, the corporation's net profit decreased by 29% year-on-year, to $2.632 billion. Diluted earnings per share were $1.47 versus $1.98 a year earlier. 

Morgan Stanley's net revenue for the quarter amounted to $12.986 billion, which is 12% lower than the same indicator in 2021. Analysts had forecast revenue at $13.23 billion.

The head of the bank, James Gorman, noted that the company's activities were stable and balanced in an uncertain and difficult environment. Morgan Stanley shares are rising by 3.55% at preliminary trading in the US today.