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We break down Morgan Stanley’s solid fourth-quarter earnings

James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, May 30, 2019.
Giulia Marchi | Bloomberg | Getty Images

Morgan Stanley (MS) reported better-than-expected FY4Q21 earnings on Wednesday before the opening bell. On the top line, revenues of $14.524 billion (+6.8% YoY) outpaced the $14.494 billion expected by FactSet. On the bottom line, adjusted diluted earnings per share of $2.08 (+8% YoY) exceeded the $1.91 per share consensus.