Morgan Stanley Sees Overall Yearly Dip for Fourth Quarter and Full Year 2022 Financial Results

Morgan Stanley today has reported its financial results for the fourth quarter and the full year of 2022, showing an overall drop on a yearly basis across all metrics.

During the period of the fourth quarter, the bank's net revenues decreased to $12.7 billion from $14.5 billion a year ago, with ROTCE of 12.6%. Net income came in at $2.2 billion, or $1.26 per diluted share, compared with $3.7 billion, or $2.01 per diluted share, in the last same period. Excluding integration-related expenses, earnings per diluted share dropped from the prior year's $2.08 to $1.31. Investment Banking revenues were $1.25 billion, down 49% year-over-year.

For the full year, the net revenues were $53.7 billion, dipping from $59.8 billion in 2021, with ROTCE of 15.3%. Net income stood at $11.0 billion, or $6.15 per diluted share, compared with $15.0 billion, or $8.03 per diluted share, in the prior year. Excluding integration-related expenses, earnings per diluted share was $6.36, compared to that of the prior year at $8.22. Investment Banking generated net revenues of $5.23 billion, while the figure was $10.27 billion in 2021.

Last month, Morgan Stanley has trimmed about 2% of its workforce​, with around 1,600 positions being affected.