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Morgan Stanley Profit Rises 57% on Surge in Bond-Trading Revenue

October 19, 2016 11:19 AM
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Morgan Stanley reported a 57 percent third-quarter profit increase as fixed-income trading revenue almost tripled, the biggest surge for that business on Wall Street.

Net income rose to $1.6 billion, or 81 cents a share, from $1.02 billion, or 48 cents, a year earlier, the New York-based company said Wednesday in a statement.

Also read: LG Electronics says third-quarter profit down 3.7 percent vs. year earlier

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