Reported 15 days ago
Morgan Stanley's third-quarter profit exceeded expectations, driven by a record revenue surge in dealmaking and investment banking, with shares rising 6.7% to a new high. The company reported a profit of $4.6 billion, outperforming forecasts of $2.10 per share, and total revenue hitting $18.2 billion. This growth was bolstered by a 44% increase in investment banking revenue and a thriving equities business. The optimistic outlook for future deal activity and improving economic conditions contributes to the overall positive performance.
Source: YAHOO