Morgan Stanley's first quarter stock trading revenue was $5.15 billion, expected $4.78 billion; first quarter net interest income was $2.70 billion, estimated $2.67 billion.

Morgan Stanley first quarter equity trading revenue was $5.15 billion, forecast $4.78 billion; first quarter net interest income was $2.70 billion, estimate $2.67 billion. First quarter results: net revenue $20.58 billion, estimate $19.71 billion (Bloomberg consensus estimate) Wealth management net revenue $8.52 billion, estimate $8.45 billion Equity sales and trading business revenue $5.15 billion, estimate $4.78 billion Fixed income, foreign exchange and commodities sales and trading revenue $3.36 billion, estimate $2.89 billion Advisory revenue $978 million, estimate $829.2 million Equity underwriting revenue $396 million, estimate $427.8 million Fixed income underwriting revenue $742 million, estimate $774 million Earnings per share $3.43 Non-interest expenses $13.47 billion, estimate $13.4 billion Compensation expenses $8.54 billion, estimate $8.41 billion; non-compensation expenses $4.93 billion, estimate $5.02 billion Wealth management pre-tax profit $2.59 billion, estimate $2.42 billion Return on equity 21%, estimate 18.3%; return on tangible equity +27.1%, estimate +23.6% Provision for bad debts $98 million, estimate $80.2 million; effective tax rate 19.6%, estimate 21.9% Assets under management $1.87 trillion, estimate $1.9 trillion. Updating....... Risk warning and disclaimer The market has risks; investment needs to be cautious. This article does not constitute personal investment advice, nor does it take into account the special investment goals, financial situation or needs of individual users. Users should consider whether any opinions, views or conclusions in this article are suitable for their specific circumstances. Invest accordingly at your own risk.