Morgan Stanley reported better-than-expected fourth-quarter 2022 earnings and revenue.
During the fourth quarter of 2022, earnings fell to $2.11 billion, or $1.26 per share, from $3.59 billion, or $2.01 per share, in the same period last year.
Adjusted earnings per share fell to $1.31 per share from $2.08 per share in the fourth quarter of 2021, better than the $1.25 per share forecast by analyst consensus surveyed by FactSet.
Morgan Stanley revenue fell to $12.75 billion from $14.52 billion in the same period of 2021, better than the $12.54 billion estimates by analysts.
Provisions for loan losses, NPLs – non-performing loans – increased to $87 million from $5 million in the prior year fourth quarter.