Morgan Stanley’s Earnings Fall 9% on Lower Investment-Banking Revenue
Morgan Stanley said third-quarter profit fell 9% from a year ago, hit by a sharp decline in deal making.Investment-banking revenue dropped 27% to $938 million. Fees from advising corporate clients on mergers and acquisitions fell by more than 30%. So did revenue from underwriting bond offerings. The bank did post an increase in equity underwriting. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
