Oct 19 Morgan Stanley reported a 61.7
percent jump in quarterly profit on Wednesday, boosted by a
surge in bond trading that followed Britain's surprise vote to
leave the European Union and bouts of anxiety about monetary
policy around the world.
Earnings applicable to shareholders rose to $1.52 billion
from $939 million for the quarter ended Sept. 30, while earnings
per shares rose to 81 cents from 48 cents.
Earnings per share from continuing operations was 80 cents.
Analysts on average had expected earnings of 63 cents per
share, according to Thomson Reuters I/B/E/S.
Adjusted revenue from sales and trading of fixed-income
securities and commodities more than doubled to $1.5 billion,
boosting total revenue by 14.7 percent to $8.91 billion.
Analysts had expected revenue of $8.17 billion.
Morgan Stanley wraps up a surprisingly strong quarter for
big U.S. banks. Goldman Sachs Group Inc, Morgan Stanley's
closest rival, reported a better-than-expected 58 percent rise
in third-quarter profit on Tuesday, driven by a 34 percent rise
in revenue from trading bonds, currencies and commodities.
(Reporting by Sweta Singh and Sudarshan Varadhan in Bengaluru;
Editing by Ted Kerr)