Financial Report Financial reports from the largest companies of the world

The profit of Morgan Stanley easily passed the expectations

The profits of one of the biggest investment banks on Wall Street - Morgan Stanley easily topped market expectations, mainly because of good results from securities trading. New York-based bank announced a profit of 1.8 billion dollars for the first quarter, or 1.03 dollars per share. After eliminating one-off income and expenses of its positive financial result amounted to 1.4 billion dollars, or 99 cents a share, but this proved much more than market forecasts for net profit of U.S. $ 938 million, or 57 cents a share. For the same period last year Morgan Stanley issued a loss of 578 million dollars, or 57 cents a share. Most of the improvement of financial performance division contributes to trading in securities whose revenue doubled in the last 12 months and reaching 2.7 billion dollars for the quarter. Funds for real estate investment, Morgan Stanley suffered significant losses this year, mainly because of problems in real estate and subprime mortgage loans. The bank offered best tracker mortgage rate, which increased the demands for credits and clients of the financial institution.
Other four banking giants in the U.S., in turn, impressed the financial markets with robust results for first quarter of 5.52 billion dollars respectively for Bank of America, 5,46 billion dollars to JPMorgan, 4,4 billion for Citigroup and 3 , 46 billion for Goldman Sachs. The all banks were supported by cheap fixed rate mortgages, which the US government ensured by the low interest rate.