Wall Street bank Morgan Stanley’s (MS.N) quarterly adjusted earnings more than doubled as stronger performances by its investment banking and wealth management businesses more than made up for a fall in revenue from bond trading.
Net income attributable to common shareholders rose to $1.86 billion, or 94 cents per share, in the three months to June 30 from $803 million, or 41 cents per share, a year earlier.
The figures exclude accounting adjustments to reflect the changing value of Morgan Stanley’s own debt, which investors and analysts typically ignore.
REUTERS
