Morgan Stanley Beats Third-Quarter Profit Estimates
Morgan Stanley reported a third-quarter profit beating estimates as market volatility boosted equity trading revenue. Wealth management also saw record net new assets driven by public offerings.
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MORGAN STANLEY posted a quarterly profit of $4.91 billion, topping analyst estimates on the back of a 41% surge in equity trading revenue. The Wall Street giant navigated market volatility driven by interest-rate shifts and geopolitical tensions involving United States and Iran during the period ending September 30. Net revenue rose to $20.34 billion from $18.22 billion a year earlier, outpacing the $19.95 billion consensus forecast.
