Accounting Lifts Morgan Stanley Profit - WSJ

Accounting Lifts Morgan Stanley Profit - WSJ - Dow Jones...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
See a sample reprint in PDF format. Order a reprint of this article now EARNINGS OCTOBER 19, 2011, 10:04 A.M. ET Bloomberg News Morgan Stanley swung to a third-quarter profit. More Deal Journal: Employee Pay Dips Hedges Haunt Morgan Stanley WSJ's Elizabeth Rappaport stops by Mean Street to go beyond the numbers and look inside Goldman Sachs's reported $393 million Q3 loss. AP Photo. Now Reporting Track the performances of 150 companies as they report and compare their results with analysts' estimates. Sort by date and industry. By BRETT PHILBIN NEW YORK—Morgan Stanley's third-quarter profit surged from a year ago, boosted by a huge accounting gain, higher revenue in equities trading and more fees from advisory work within investment banking. Net revenue at the investment bank, Wall Street's second-largest after Goldman Sachs Group Inc., jumped 46% to $9.9 billion, marking the second straight quarter it has reported higher quarterly revenue than Goldman Sachs Group Inc., which had a tough quarter. Goldman reported net revenue of $3.59 billion in the third quarter. Morgan Stanley was the latest firm to benefit from declines in the value
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

Accounting Lifts Morgan Stanley Profit - WSJ - Dow Jones...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online