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Morgan Stanley Reports Blowout Quarter Cementing The Bank’s Best Year In History

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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