Morgan Stanley also finally released its quarterly results. The second quarter results for Morgan Stanley are much better than what analysts were expecting. Morgan Stanley reported a profit of $1.46 billion from continuing operations.
Morgan Stanley was about to collapse during the credit crunch. However, it improved its financial strength to a large extent ever since. The earnings in 2nd quarter through June were $1.09 a share compared with a loss of $1.10 a share in the period a year ago.
The Net income attributable to shareholders was $1.58 billion, after a loss of $1.26 billion in the period a year ago. This Net income is a good sign for investors seeking interest in Morgan Stanley.
Morgan Stanley's revenue was $7.95 billion, a 53 percent increase from the quarter a year ago.
Morgan Stanley's competing firms like JPMorgan Chase, Bank of America and Citigroup could not fetch good results.
Or add related content to this report
News Stories | Blogs | Images | Videos | Comments