Morgan Stanley Reports First Quarter 2017

Morgan Stanley press release ------- Morgan Stanley (NYSE: MS) today reported net revenues of $9.7 billion for the first quarter ended March 31, 2017 compared with $7.8 billion a year ago. For the current quarter, net income applicable to Morgan Stanley was $1.9 billion, or $1.00 per diluted share, compared with net income of $1.1 billion, or $0.55 per diluted share, for the same period a year ago. Compensation expense of $4.5 billion increased from $3.7 billion a year ago driven by higher revenues. Non-compensation expenses of $2.5 billion compared with $2.4 billion a year ago. The effective tax rate for the current quarter was 29.0%, which reflected a recurring-type of discrete tax benefit of $112 million associated with new accounting guidance related to employee share-based payments. The annualized return on average common equity was 10.7 percent in the current quarter. To get more in depth information click on the picture below to read the release.