Morgan Stanley profit surges 53%

Morgan Stanley reported a 53% rise in quarterly profit on Thursday, driven by strength in its bond trading and underwriting businesses.

The bank said earnings attributable to common shareholders rose to $2.09 billion, or $1.30 per share, in the quarter ended Dec. 31, from $1.36 billion, or 80 cents per share, a year ago. (https://reut.rs/37b9508)

Analysts had expected a profit of 99 cents per share, according to IBES data from Refinitiv. It was not immediately clear if the numbers were comparable.