Morgan Stanley reported Thursday’s quarterly profit growth by more than 11% as investment banking benefited from closing deals and record-level activity in the capital markets.
Net income applicable to common shareholders in the second quarter ending June 30 increased from $ 3.05 billion ($ 1.96 per share) to $ 3.4 billion (1 share) in the year-ago quarter, according to Wall Street banks. It increased to $ 1.85 per share).
Analysts expected banks to report a profit of $ 1.65 per share, according to Refinitiv’s IBES data.
Reported by Sohin iPodder in Bangalore and Elizabeth Dilts Marshall in New York. Edited by Anil D’Silva.