Morgan Stanley (MS) Q1 Earnings Top on Revival of IB Business

Morgan Stanley’s (MS) first-quarter 2024 earnings of $2.02 per share handily surpassed the Zacks Consensus Estimate of $1.69. The figure also compared favorably with $1.70 per share reported in the prior-year quarter.Additionally, MS’ net revenues of $15.14 billion beat the Zacks Consensus Estimate of $14.47 billion. The top line grew 4% year over year.The primary reason for Morgan Stanley’s better-than-expected performance was the resurgence of the investment banking (IB) business. Since 2022, the performa ...