More on Morgan Stanley (MS) Q1 earnings: Excluding DVA, revenue of $8.5B fell 4.5% Y/Y, but beat...


More on Morgan Stanley (MS) Q1 earnings: Excluding DVA, revenue of $8.5B fell 4.5% Y/Y, but beat expectations by about $160M. Earnings would have been a beat as well. Wealth management is a focus now, and revenue grew to $3.5B from $3.3B in Q4, with pre-tax margin of 17%. "Program to reduce non-strategic risk-weighted assets in (trading) remains on schedule." Indeed: FICC revenue of $1.5B, off 42% Y/Y. Shares flat. (PR)

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