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Morgan Stanley reported earnings that beat on the top and bottom lines.The firm reported diluted earnings pers hare of $0.39 on revenue of $7.7 billion.Analysts were expecting adjusted earnings per share of $0.32 on revenue of $7.63 billion, according to Bloomberg."A strong overall performance in the first half of the year was impacted by difficult market conditions in the second half that dampened trading activity," CEO James Gorman said in a statement. "In the fourth quarter we took action to meaningfully restructure our Fixed Income business on a capital and expense basis. We enter 2016 with a continued focus on managing expenses across the Firm and driving up returns for our shareholders."In the same quarter last year, Morgan Stanley missed expectations, reporting earnings of $0.40 per share ($0.49 expected) on revenue of $7.8 billion ($8.14 expected).The bank missed in the third quarter, too, reporting earnings per share of $0.34 ($0.64 expected) on revenue of $7.8 billion ($8.6 expected). Bond-trading revenue was down 42% year-on-year in the third quarter.JPMorgan, Citigroup, and Wells Fargo reported Q4 earnings last week and all of them were a beat. Bank of America also reports earnings on Tuesday morning, while Goldman Sachs will report on Wednesday.
