![](https://i0.wp.com/contentedreader.com/wp-content/uploads/2023/10/Morgan-Stanleys-Earnings-Fall-9-on-Lower-Investment-Banking-Revenue.jpeg?resize=768%2C432&ssl=1)
Updated Oct. 18, 2023 11:05 am ET
Morgan Stanley said third-quarter profit fell 9% from a year ago, hit by a sharp decline in deal making.
Investment-banking revenue dropped 27%, far worse than at other banks. Within that, fees from advising corporate clients on mergers and acquisitions fell by more than 30%. So did revenue from underwriting bond offerings.
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8