Morgan Stanley profit jumps on higher trading revenue

April 20, 2015 11:41 AM

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Morgan Stanley profit jumps on higher trading revenue

(Reuters) - Wall Street investment bank Morgan Stanley reported a much stronger-than-expected rise in quarterly profit, boosted by higher revenue from trading bonds and equities.

Net income applicable to common shareholders rose to $2.31 billion, or $1.18 per share, in the first quarter ended March 31, from $1.45 billion, or 74 cents per share, a year earlier.

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