(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.
20:20 Microsoft's quarterly profit rises 27.8 percent24
19:18 U.S. Says Canada Lumber Duty Is Part of Trade Enforcer Drive21
06:33 SAP first-quarter core profit up 8 percent on accelerating cloud sales27
03:27 Ahead of NAFTA talks, U.S. sets 20 percent duties on Canadian softwood lumber23