Morgan Stanley Q3 Results Beat Street on Top, Bottom Lines
Higher revenue from wealth management helped Morgan Stanley report better-than-expected earnings and revenue for the 2016 third quarter.
Morgan Stanley (MS) - Get Report shares are up slightly Wednesday after the company reported better-than-expected earnings and revenue for the 2016 third quarter. Before the opening bell, the New York-based bank posted earnings of $0.81 a share, surpassing analysts' estimates of $0.63 a share. Revenue for the period was $8.9 billion, above Wall Street's forecasts of $8.2 billion. Revenue from wealth management increased to $3.9 billion from $3.6 billion a year ago. Equity sales and trading revenue rose to $1.9 billion from $1.8 billion last year.
