Morgan Stanley rises more than 3% after strong earnings beat (MS)
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Morgan Stanley announced second quarter earnings results Wednesday morning. The firm beat analysts' estimates on a number of fronts.
Revenue: $10.6 billion, up 12% from the year-ago period
Net income: $2.4 billion, up 39%
Earnings per share: $1.30
Return on equity: 13%
The stock was up 3.5% on the results.
The firm also saw growth in equities and fixed-income trading.
Morgan Stanley CEO James Gorman said, "We reported robust revenue and earnings growth this quarter with strength across all businesses and geographies. The second quarter performance reflected active markets and healthy client engagement. Our strong global franchise positions us well to continue to grow organically across each of our businesses and to deliver operating leverage."
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