Morgan Stanley reported earnings that beat analysts’ estimates as equity-trading revenue jumped the most among the biggest Wall Street firms and the wealth-management profit margin climbed.
Third-quarter net income was $906 million, or 45 cents a share, compared with a loss of $1.02 billion, or 55 cents, a year earlier, the New York-based company said Friday in a statement. Excluding an accounting charge tied to the firm’s own debt, profit was 50 cents a share, topping the 40-cent average estimate of 24 analysts surveyed by Bloomberg.
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