Morgan Stanley (MS) reported its latest financial results for the second quarter before the market open in the US on Thursday.

The US financial services company reported revenue of $13.132 billion in Q2 which did not meet analyst forecast of $13.386 billion.

Earnings per share also missed expectations at $1.44 per share vs. $1.56 per share estimate.

”Overall the Firm delivered a solid quarter in what was a more volatile market environment than we have seen for some time. Strong results in Equity and Fixed Income helped partially counter weaker investment banking activity. We continue to attract positive flows across our Wealth Management business, and Investment Management continues to benefit from its diversification. Finally, we finished the quarter in a strong capital position to ensure we move forward with confidence,” said James P. Gorman, Chairman and CEO of Morgan Stanley in a press release after the results were announced.

Morgan Stanley (MS) chart

Share price of Morgan Stanley was down during the trading day on Thursday by around 2% at $73.37 per share.

Here is how the stock has performed in the past year:

• 1 Month -0.57%
• 3 Month -13.25%
• Year-to-date -25.09%
• 1 Year -20.62%

Morgan Stanley price targets

• Credit Suisse $95
• Wells Fargo $83
• Piper Sandler $90
• RBC Capital $80
• BMO Capital $113
• UBS $125
• Barclays $123

Morgan Stanley is the 83^rd largest company in the world with a market cap of $128.39 billion.

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Sources: Morgan Stanley, TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap