Business · 2 hours ago
Morgan Stanley Profit Beats Forecasts as Trading Booms
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Morgan Stanley earned $4.91 billion in the third quarter, beating analysts' forecasts, as market swings linked to interest rates and the US-Iran war drove a big surge in share trading by clients. Equity trading revenue rose about 41% to $5.8 billion, while investment banking income edged up 2%. Total revenue also beat expectations, although the bank's shares still fell as hot inflation data rattled markets.
Reported by Reuters · How we write briefs