Morgan Stanley’s fourth-quarter earnings and revenue exceeded expectations, with profits more than doubling to $3.71 billion, or $2.22 per share. The bank’s revenue increased by 26% to $16.22 billion. The standout performer was the equities trading business, which saw a 51% revenue increase to $3.3 billion, surpassing estimates by nearly $650 million. This surge was attributed to heightened client activity and a robust prime brokerage business serving hedge funds. Fixed income operations also thrived, with a 35% revenue jump to $1.93 billion, exceeding expectations by about $250 million, driven by increased activity in credit and commodities markets. Investment banking revenue rose 25% to $1.64 billion, matching estimates, while wealth management revenue grew by 13% to $7.48 billion, topping estimates by $120 million. Morgan Stanley shares rose 2% in premarket trading following the announcement.
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