Quantcast


Last updated: October 18. 2013 8:36AM - 485 Views
Associated Press



FILE - In this Friday, Jan. 18, 2013, file photo, Morgan Stanley CEO James Gorman is interviewed on the Fox Business Network, in New York. Morgan Stanley reports quarterly earnings on Friday, Oct. 18, 2013. (AP Photo/Richard Drew, File)
FILE - In this Friday, Jan. 18, 2013, file photo, Morgan Stanley CEO James Gorman is interviewed on the Fox Business Network, in New York. Morgan Stanley reports quarterly earnings on Friday, Oct. 18, 2013. (AP Photo/Richard Drew, File)
Story Tools:

Font Size:

Social Media:

(AP) Investment bank Morgan Stanley says that its third-quarter earnings almost doubled as the firm's equity sales and trading revenue rose.


The bank earned $1.01 billion from July to September after stripping out an accounting charge. That compares with earnings of $560 million year earlier.


That profit works out to 50 cents a share before the charge, compared with 28 cents a share in the same period a year earlier. Financial analysts polled by data provider FactSet predicted earnings of 40 cents. Analysts generally strip out one-time items.


Equity sales and trading revenues climbed to $1.7 billion from $1.3 billion in the period.


Total revenue amounted to $8.1 billion, up 6.5 percent from $7.6 billion a year earlier.


The bank's stock rose 77 cents, or 2.7 percent, to $29.70 in pre-market trading


Associated Press
Comments
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com