Morgan Stanley revenue jumps 50 pct on strong equities trading
Oct 18 (Reuters) - Morgan Stanley reported a 50 percent rise in quarterly revenue as higher income from equities sales and trading made up for a drop in its fixed-income business.
The Wall Street bank and brokerage recorded net income of $888 million, or 44 cents per share, from continuing operations in the third quarter compared with a loss of $1 billion, or 55 cents, a year earlier.
The year-earlier figure included an accounting charge of $2.3 billion to reflect a rise in the value of Morgan Stanley's debt.
Excluding an accounting adjustment that analysts and investors typically ignore, Morgan Stanley earned 50 cents per share. (Reporting by Lauren Tara LaCapra in New York and Tanya Agrawal in Bangalore; Editing by Ted Kerr)
- Housing, jobs data weaken, but overall economic picture still upbeat
- Putin critic Khodorkovsky in Germany after pardon
- Target cyber breach hits 40 million payment cards at holiday peak |
- Pizza outlet attacked as India, U.S. fail to cool diplomat row |
- New York Mayor-elect's reputation for lateness parodied on Twitter