- Morgan Stanley's net interest income predicted to fall by 14% in FY24, warns BMO Capital Markets analyst James Fotheringham.
- Investment bank's third quarter performance features a $2.4 billion net profit, surpassing revenue expectations; potential future reductions due to credit costs.
- What this prediction could mean for investor decisions?
Morgan Stanley, one of the world's leading international financial services corporations, is expected to face a notable decrease in its net interest income, warns James Fotheringham, a reputable analyst at BMO Capital Markets. Fotheringham's forecast is a stern 14% decline in the firm's net interest income by the end of financial year 2024, a potential blow for the globally recognized company.
In the third quarter of 2023, Morgan Stanley reported an impressive net profit of $2.4 billion, equating to $1.38 per diluted share, albeit slightly lower than the previous year's figures of $2.6 billion or $1.47 per share. As daunting as these figures may seem, they override the estimated consensus, as the company generated revenues of $13.27 billion, thus exceeding expectations of $12.58 billion.
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