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Morgan Stanley profits sink 30%

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Morgan Stanley reported a first-quarter earnings decrease of 30% to $1.7 billion.

Earnings per share of $1.01 were below analysts' expectations of $1.16 per share. Revenue of $9.5 billion was less than the $9.85 billion expected by analysts.

The Wall Street Journal reports banks went through a period of stress during the first quarter due to the coronavirus.

Read more from The Wall Street Journal.


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