Morgan Stanley's net profit in Q3 surges on strong performance in equities trading

Morgan Stanley reported a 19 per cent increase in quarterly profit on Tuesday, with a strong performance in its equities trading business outweighing weakness in bond trading.

Net income attributable to Morgan Stanley rose to $2.11 billion, or $1.17 per share, in the third quarter ended Sept. 30, from $1.78 billion, or 93 cents per share, a year ago.

Analysts were expecting $1.01 per share, according to I/B/E/S data from Refinitiv. It was not immediately clear if the reported results were comparable.