Reuters - Video

EDITION: U.S. | U.K. | IN

Finance Videos

Daily Digit: Morgan Stanley's $894 million

Friday, January 18, 2013 - 01:04

Jan 18 - Excluding an accounting charge, Morgan Stanley earned $894 million in the fourth quarter of 2012, compared with a loss a year earlier. Conway G. Gittens reports.

▲ Hide Transcript

View Transcript

The Daily Digit today is $894 million. This is how much Morgan Stanley made in the fourth quarter of last year. The number excludes an accounting charge related to changes in the value of the bank's debt, and works out to a profit of 45 cents a share. That's a complete turnaround from the same time the prior year when the bank lost 20 cents a share. The Wall Street bank's global wealth management business was a front-runner in bringing in the money, providing more revenue and pretax earnings in the quarter than investment banking and asset management. Profits from wealth management topped analysts' forecasts - a good thing for Morgan Stanley Chief Executive James Gorman; he's staking the bank's rebound on wealth management, arguing that group produces more stable returns and will offset volatility on other units. Also boosting the bottom line - layoffs and compensation cuts. Employee compensation fell 4 percent last year as the bank cut nearly 5,000 jobs.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Daily Digit: Morgan Stanley's $894 million

Friday, January 18, 2013 - 01:04

Editors' Picks »

Most Popular »

Moving Pictures »

Images of November Images of November

Tue, 02 Dec, 2014 - (0:30)

Images of October Images of October

Mon, 03 Nov, 2014 - (0:57)

The world in a city The world in a city

Fri, 31 Oct, 2014 - (1:30)

Real-life superheroes Real-life superheroes

Tue, 28 Oct, 2014 - (1:44)

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

Dateline Asia »

Sinking Jakarta embarks on seawall project Sinking Jakarta embarks on seawall project

Thu, 18 Dec, 2014 - (2:22)

North Korea to blame for Sony hack: source North Korea to blame for Sony hack: source

Thu, 18 Dec, 2014 - (1:10)

China's house prices fall again China's house prices fall again

Thu, 18 Dec, 2014 - (1:10)

China's child labor problem China's child labor problem

Thu, 18 Dec, 2014 - (2:19)

Measuring up North Korea's heir Measuring up North Korea's heir

Wed, 17 Dec, 2014 - (1:03)

Russia worries rock emerging markets Russia worries rock emerging markets

Wed, 17 Dec, 2014 - (1:14)

Seoul raises the "nut rage" stakes Seoul raises the "nut rage" stakes

Tue, 16 Dec, 2014 - (1:03)

Sydney in shock after hostage horror Sydney in shock after hostage horror

Tue, 16 Dec, 2014 - (1:07)

Not all merry and bright in China's manufacturing sector Not all merry and bright in China's...

Tue, 16 Dec, 2014 - (1:29)

Reuters Investigates »

Where the sea is closing in Where the sea is closing in

Thu, 20 Nov, 2014 - (3:41)

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:22)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)