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Thursday, Feb 2, 2023
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Morgan Stanley’s Profit Dips 24 Percent

Profit at Morgan Stanley fell 24 percent in the second quarter, the company announced Wednesday, due to difficult market conditions and higher legal expenses in connection with high-profile lawsuits.


Morgan Stanley reported net income of $298 million (86 cents per diluted share) for the quarter ended May 31, compared with $1.2 billion ($1.10) for the like period a year earlier. Revenue fell to $6 billion from $6.8 billion in the year-ago period.


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