Morgan Stanley profit surges on trading strength
Morgan Stanley posted a 57% rise in fourth-quarter profit on Wednesday, as the Wall Street bank's trading business benefited from coronavirus-induced volatility in financial markets.
Net income applicable to common shareholders rose to $3.27 billion, or $1.81 per share, in the quarter ended Dec. 31, compared with $2.09 billion, or $1.30 per share, a year earlier.
Analysts had expected a profit of $1.27 per share, according to Refinitiv IBES data.
Also Read: Morgan Stanley appoints Sanjay Shah as country head
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Morgan Stanley
Advertisement