Morgan Stanley said on Monday that second-quarter profit was
$1.81 billion as the company managed through an environment of
brisk deal-making and volatile markets.
The New York-based bank reported a profit of $0.85 per
share.
That compares to profit of $1.29 billion, or $0.92 per share, it
reported in the same period of 2014. Analysts polled by Thomson
Reuters had expected earnings of $0.74 a share.
Revenues rose to $9.74 billion from $8.61 billion. Excluding
accounting adjustments, revenue was $9.56 billion, compared with
the $9.10 billion analysts had expected.
Morgan Stanley is coming off a strong first quarter in which
Chief Executive James Gorman's strategy of de-emphasizing risky
businesses like bond trading and bulking up more consistent ones
like wealth management bore fruit.
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