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Business News/ Companies / News/  Morgan Stanley Q3 profit jumps 26% on trading boost
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Morgan Stanley Q3 profit jumps 26% on trading boost

Net income applicable to common shareholders rose to $2.60 billion in the quarter ended Sept 30, from $2.06 billion a year ago
  • Earnings per share rose to $1.66, compared to $1.27 a year ago
  • The corporate logo of financial firm Morgan Stanley is pictured on a building in San Diego, California. (REUTERS)Premium
    The corporate logo of financial firm Morgan Stanley is pictured on a building in San Diego, California. (REUTERS)

    Morgan Stanley posted a 26% jump in third-quarter profit on Thursday, powered by another bumper quarter at its trading business as the COVID-19 pandemic drove up volatility in financial markets.

    Net income applicable to common shareholders rose to $2.60 billion in the quarter ended Sept. 30, from $2.06 billion a year ago. Earnings per share rose to $1.66, compared to $1.27 a year ago.

    Analysts were looking for a profit of $1.28 per share, according to IBES data from Refinitiv. It was not immediately clear if the numbers were comparable.

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    This story has been published from a wire agency feed without modifications to the text.

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    Published: 15 Oct 2020, 05:28 PM IST
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