Morgan Stanley Posts Disappointing Earnings


The firm reported a net loss of 67 percent this morning, with profit falling in the third quarter from $936 million to $313 million. In a statement, newish CEO James Gorman sounded disappointed:

"Although we continued to make progress across some key businesses this quarter, our results in aggregate clearly do not reflect the true potential of Morgan Stanley's global client franchise and I am not satisfied with our overall performance.

Oh well. So long as the kids are having fun.

Morgan Stanley Earnings Report [via WSJ]