[Archyde.com]— US financial giant Morgan Stanley (Morgan S) announced on the 19th that its profits exceeded market expectations in the fourth quarter (until December 31st). The advisory business was strong once morest the backdrop of the M & A (merger / acquisition) boom.
Wealth management was also strong, with revenues up more than 10% to $ 6.25 billion.
According to Delogic data, Morgan S had 420 deals in 2009, ranking third in the global investment banking league table following Goldman Sachs and JPMorgan Chase.
Investment banking revenues increased 6% to $ 2.43 billion. The division includes advisory services, stock underwriting and fixed income underwriting.
Overall earnings were $ 3.59 billion ($ 2.01 per share), up from $ 3.27 billion ($ 1.81 per share) in the year-ago quarter.
Analysts expect average earnings per share to be $ 1.91, according to Refinitiv data.
Revenue is $ 14.52 billion. The year-ago quarter was $ 13,590 million.
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