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Morgan Stanley Wealth Unit's Results Miss Estimates
News July 16, 2024 at 12:09 PM
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What You Need To Know
- The business fell short of expectations, with $6.79 billion in revenue and net new assets of $36.4 billion in the second quarter.
- Pretax margin for the wealth unit came in at 26.8%, just behind estimates.
- Overall, the wirehouse posted $3.08 billion in net income for the quarter on $15 billion in revenue.
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