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HomeNewsMorgan Stanley reports second-quarter profit surge of over 11% - News

Morgan Stanley reports second-quarter profit surge of over 11% – News


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.

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Source: Reuters



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