Morgan Stanley’s profits increased by the sale of debt associated with X Elon Musk’s X

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Morgan Stanley was awarded an increase in profits, unloading the debt associated with X Elon Musk’s X, which has become more attractive to investors in recent months, helping the Wall Street Bank to report a quarterly profit.

The US lender reported nearly $ 700 million in “other” income in its investment bank three months before March, which is compared to $ 242 million over the same period last year, which, he said, is “mainly due to the sale of corporate loans.”

A person acquainted with this question, said that most of the incentive was related to the unloading of the debt related to Musk’s acquisition on Twitter, which is now renamed X.

Morgan Stanley, a leading banker Musk, was one of several lenders, which initially had a sad debt of $ 44 billion in $ 44 billion in 2022. Banks had to finance itself after Musk owns business and wider market volatility that changed the debt.

However, an investor appetite in X debt was backed up by Moscow’s relations with US President Donald Trump as well as as The return of some advertisers previously distracted from the platform, reports The Financial Times before.

The strengthening occurred when Morgan Stanley said that the profits in the first quarter of the 26-percent growth that operated on the trade business, which was engaged in trade stocks, which used the changing financial markets in the first months of the Trump administration.

In three months, the lender reported a net profit of $ 4.3 billion, which is more than a quarter higher than in the same period last year, as well as by estimates of $ 3.7 billion.

“These results demonstrate the consistent implementation of our clear strategy to ensure the solid growth of our global traces,” said Ted Peak Executive Director.

Reliable productivity was fueled by a trade operation, which during this period amounted to 45 percent revenue growth to $ 4.1 billion. Fixed income trading company reported about $ 5 percent to $ 2.6 billion.

The new pure assets in his carefully watched the business management for the quarter amounted to $ 94 billion, just below the same period last year, but comfortably winning analysts’ expectations.

While moody financial markets were good for trading activities, they got into the forecast for consultative investment banks because customers are overestimated with transactions. Over the last 10 days, this concern has deteriorated with US plans at wide global tariffs.

Morgan StanleyInvestment banks’ revenues in the first quarter increased by 8 percent to $ 1.6 billion, although most of this was paid for transactions that were already announced.

Stanley Morgan’s actions traded 0.8 percent lower in New York.