Morgan Stanley profit fell 32% in 1Q due to coronavirus

US, WASHINGTON (ORDO NEWS) — Morgan Stanley on Thursday reported a 32% drop in profit in the first quarter due to lower revenue for the consulting division and the money management business due to the coronavirus pandemic.

Earnings due to holders of ordinary shares fell in January-March to $ 1.59 billion, or $ 1.01 per share, from $ 2.34 billion, or $ 1.39 per share, a year earlier.

Analysts had expected earnings of $ 1.14 per share, according to IBES from Refinitiv.

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