The Latest On Firms' Q1 Earnings

Credit Suisse reported better-than-expected earnings Thursday, with net income coming in at $1.7bn. The securities unit reported $2.05bn in pretax profit in the period, after emerging markets trading, US leveraged finance, energy trading strategies and convertibles businesses returned to profitability.

And Morgan Stanley posted its third quarterly loss in six Tuesday. The firm's first-quarter loss came in at $177m, as real estate investment losses and debt charges wiped away gains in trading and M&A. Morgan Stanley said that it adopted a low risk profile in the period.

Bank of New York Mellon released its first-quarter earnings Monday. Profits were down over 50% to $322m.

BlackRock's first-quarter profit fell 65% to $84m on falling revenues and restructuring charges.

Jefferies & Co, however, reported a rise in its first-quarter profits to $38.3m, after record fixed income and commodities revenues.

And Northern Trust reported a 60% decline in its first-quarter numbers, with net income coming in at $161.8m on falling revenues.

UK fund manager Schroders posted a 71% fall in its first-quarter pretax profit Thursday to $17.7m.

Finally, State Street reported a 10% drop in first-quarter earnings, with net profit down to $476m. The results were, however, better than analyst expectations.

Sources - Bloomberg, Reuters, The Wall Street Journal

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