Investing.com - Morgan Stanley reported third quarter earnings and revenue that beat analysts’ expectations on Tuesday.
The firm reported second quarter earnings per share of $0.93 on revenue of $9.91 billion.
Analysts had expected EPS of $0.81 on revenue of $9.01 billion.
The bank said wealth management revenue revenue came in at $4.22 billion against forecasts of $4.15 billion, while investment banking revenues were $1.3 billion compared to expectations of $1.1 billion.
Overall sales and trading revenue fell to $2.9 billion from $3.2 billion in the same quarter a year ago. Equities trading revenue was little changed, but fixed income trading revenues fell to $1.2 billion from $1.5 billion, which the bank attributed "subdued activity."
Morgan Stanley shares gained 1.74% in pre-market trade.