Morgan Stanley (MS) reported a 30% profit decline in the first quarter missing analysts’ expectations, while warning that the coronavirus-related economic pain will continue to have adverse effects on the attainment of its future financial results.Earnings attributable to common shareholders declined to $1.59 billion, or $1.01 per share, in the first quarter ended March 31, from $2.34 billion, or $1.39 per share, a year ago. Analysts had expected a profit of $1.14 per share. Net revenues slid to $9.5 billion in the first three months of the year from $10.3 billion a year ago.Looking ahead, Morgan Stanley warned that the …read more
Source:: Yahoo Finance
