Thursday, January 18, 2018

Morgan Stanley Q4 Profit Declines On Tax Provision

Morgan Stanley (MS) reported net income applicable to company of $686 million, or $0.29 per share for the fourth quarter ended December 31, 2017. The results for the current quarter included a net discrete tax provision of $990 million or a loss of $0.55 per share. Excluding net discrete tax items, net income applicable to Morgan Stanley was $1.7 billion, or $0.84 per share compared with net income of $1.5 billion, or $0.74 per share, for the same period a year ago. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $0.77 for the quarter. Analysts' estimates typically exclude special items.

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