morgan stanley Earnings Archive 2001 3rd

Morgan Stanley reported net income of $735 million for Q3 2001, down 41% from $1.246 billion in Q3 2000. Net revenues were $5.3 billion, down 16% year-over-year. The annualized return on equity was 15% for the quarter. While global economic concerns increased, Morgan Stanley believes in long-term growth opportunities and will increase share repurchases. Securities net income was $414 million, down 50% from last year's strong third quarter due to lower market activity. Credit services net income was $196 million, down 14%, with higher net charge-offs offsetting increases in interest income and fees.