The investment bank reported third-quarter earnings applicable to common shareholders of $888 million, or 44 cents a share, increasing from $803 million, or 43 cents a share in the second quarter, and a net loss of $1.047 billion, or 55 cents a share, in the third quarter of 2012, when the company recorded a $2.3 billion debit valuation adjustment (DVA).
But excluding DVA, Morgan Stanley's third-quarter revenue came to $8.1 billion, compared to $8.3 billion the previous quarter, and $7.6 billion a year earlier. That is a strong third-quarter revenue result, when considering the pressure on trading revenue reported by the company's largest competitors.
Adjusted third-quarter earnings were 50 cents a share, soundly beating the consensus estimate of 40 cents, according to Bloomberg."
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