NEW YORK (MarketWatch) -- Morgan Stanley on Wednesday posted its own quarterly deficit, dogged, like rival Goldman Sachs reported a day earlier, by frozen credit markets, falling asset prices and stagnant underwriting.
Morgan said it lost $2.30 billion, or $2.34 a share, in the fiscal fourth quarter, compared to a loss of $3.59 billion, or $3.61 a share, in the year-earlier period. Net revenue was $1.8 billion, compared with negative $400 million in last year's fourth quarter.
Analysts polled by Thomson Reuters expected the firm to lose $298 million, or 34 cents a share, on revenue of $3.78 billion.
Analyst estimates had been falling for weeks as researchers figured out just how bad things had become in November as Wall Street continued to struggle with its exposure to residential and commercial real estate loans, other credit investments and plunging equity markets.
Morgan said it lost $2.30 billion, or $2.34 a share, in the fiscal fourth quarter, compared to a loss of $3.59 billion, or $3.61 a share, in the year-earlier period. Net revenue was $1.8 billion, compared with negative $400 million in last year's fourth quarter.
Analysts polled by Thomson Reuters expected the firm to lose $298 million, or 34 cents a share, on revenue of $3.78 billion.
Analyst estimates had been falling for weeks as researchers figured out just how bad things had become in November as Wall Street continued to struggle with its exposure to residential and commercial real estate loans, other credit investments and plunging equity markets.
选择“Disable on www.wenxuecity.com”
选择“don't run on pages on this domain”
