Morgan Stanley Profit Tops Estimates on Brokerage, Stock Trading

April 20, 2015 11:32 AM

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Morgan Stanley Profit Tops Estimates on Brokerage, Stock Trading

Morgan Stanley reported profit that beat analysts’ estimates and the highest adjusted revenue in more than five years on increases in equity trading and brokerage revenue.

First-quarter net income rose 59 percent to $2.39 billion, or $1.18 a share, from $1.51 billion, or 74 cents, a year earlier, the New York-based company said Monday in a statement. Excluding an accounting gain and a tax benefit, profit was 85 cents a share, topping the 78-cent average estimate of 24...

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