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Merrill Lynch Earnings Call 
 
Merrill Lynch & Co. Earnings Call, Second Quarter 2008
19th July 2008 00:00 AM
The company reported a loss of $4.65 billion, as the brokerage was forced to once again take massive writedowns.
Merrill reported $3.5 billion of net losses from its exposure to super senior CDOs. The firm took $2.9 billion hit from the falling value of hedges it bought from bond insurers. Communication and technology costs were $566 million, up 17% due primarily to costs related to ongoing technology investments and system development initiatives, as well as higher market data information costs.
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Merrill Lynch First Quarter Earnings Call
24th April 2008 00:00 AM
The company reported net loss from continuing operations of $1.97 billion versus net earnings of $2.03 billion for the Q1 of 2007.
Despite the quarterly loss, the financial services company’s underlying businesses posted solid results in a difficult market environment. The firm’s $82 billion excess liquidity pool has increased from year-end levels and the entity remains well capitalized. Q1 fiscal 2008 net revenues were $2.9 billion, a decrease of 69% from the prior year period due to net write-downs of $1.5 billion related to the U.S. ABS CDOs.
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Merrill Lynch Fourth Quarter Earnings Call
19th January 2008 00:00 AM
Net revenues a negative $8.2 billion, from $8.4 billion in 2006 driven by write-downs related to CDOs' and sub-prime mortgages.
The financial services firm reported a net loss of $10.3 billion, or $12.01 per share, down from net income of $2.2 billion, or $2.41 per share in the prior year as a result of declines in net revenues due to a weaker business environment and net write-downs. The firm raised an additional $12.8 billion from long term investors to buffer its equity base and is now well capitalized, both at the parent level and at the regulated subsidiary level.
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Merrill Lynch First Quarter Earnings Call
14th January 2008 00:00 AM
Gains in global markets and investment banking business boosted earnings 31% to $2.2 billion.
Merrill Lynch & Co. reported revenue increase of 34% to $9.9 billion, beating analysts’ expectation of $9.1 billion. GMI revenue rose 43% to $6.5 billion, led by growth abroad as non-U.S. revenues grew faster than U.S. revenues this period. Despite the subprime mess, the fixed income, currencies and commodities line jumped 36% to $2.8 billion, on the back of record revenue levels from credit products, real estate, interest rate products and currencies.
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Merrill Lynch Third Quarter Earnings Call
26th October 2007 00:00 AM
Hit by the overexposure to subprime market, the company reported loss of $2.31 billion versus a profit of $3 billion in the prior year quarter.
The leading financial institution reported revenue of $577 million, down 94% from $9.83 billion in the prior year. During Q3, Merrill Lynch took $7.9 billion write down across CDOs and U.S. subprime mortgages. When the market for securities began to deteriorate, the firm sold and hedged its exposures, but it was not aggressive, as its assessment of the potential risk and mitigation strategies were inadequate. The firm has appointed David Sobotka as the head of the FICC organization.
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Merrill Lynch Second Quarter Earnings Call
3rd October 2007 00:00 AM
Total net revenues were $9.7 billion, up 19% to from $8.2 billion in the prior-year period and 1% down from $9.9 billion in the first quarter of 2007.
The wealth management company reported increased growth in revenue over the prior year, mainly driven by increased revenue in Global Markets & Investment Banking and Global Wealth Management, as a result of successful diversification and growth strategies. Net earnings were $2.1 billion, up 31% from a year earlier and down 1% from the first quarter. Merrill Lynch repurchased 19.8 million shares of its common stock for $1.8 billion during the second quarter of 2007.
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