Morgan Stanley (NYSE: MS) reported a better-than-expected bottom and top line results for the second quarter of 2020. Adjusted EPS of $2.04 and revenue of $13.4 billion, both increased year-over-year and excelled the market’s estimates. Revenue increased 31% in the quarter, fueled by the strong growth in investment banking and trading revenues.
MS stock was trading up about 1% in the pre-market trading session.
“Our decade long business transformation was intended to provide stability during times of serious stress. The second quarter tested the model and we performed exceedingly well, delivering record results,” said CEO James Gorman.
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