Concluding the big banks flurry of Q4 updates, this morning Morgan Stanley reported results for the final quarter of 2020 and it will probably not be a big surprise that, like Goldman yesterday, they were stellar.
Morgan Stanley reported Net Income of $3.39BN, up 50% from $2.24BN a year ago resulting in adjusted EPS of 1.92 (the company used a 23% effective tax rate vs 15.7% a year ago) smashing estimates of 1.27, on blowout revenue of 13.6BN, up 26% Y/Y and more than $2BN above the consensus estimate of 11.54BN.
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