Banking giant Morgan Stanley (NYSE: MS) on Thursday reported higher earnings and revenues for the third quarter of 2021. The company’s stock gained soon after the announcement.
Net income applicable to shareholders was $3.6 billion or $1.98 per share in the third quarter of 2021, compared to $2.6 billion or $1.66 per share in the same period a year ago. Adjusted earnings rose to $2.04 per share from $1.66 per share last year and topped expectations.
The bottom-line benefitted from a 26% increase in revenues to $14.8 billion, which also came in above analysts’ forecast.
Shares of Morgan Stanley gained early Thursday following the earnings announcement, after closing the last session higher.
