Morgan Stanley tops estimates as trading revenue exceeds expectations by $1 billion

Government

Morgan Stanley on Wednesday posted results that topped analyst estimates as the firm's trading operations generated about $1 billion more in revenue than expected. Here's what the company reported: The bank said profit jumped 29% to $5.57 billion, or $3.43 a share. Revenue rose 16% to $20.58 billion, fueled by gains in the firm's trading, investment banking and wealth management businesses. Equities trading revenue jumped 25% to a record $5.15 billion, or about $450 million above the