(Bloomberg) -- Morgan Stanley, owner of the worlds largest brokerage, reported a 66% earnings increase that beat analysts estimates as trading revenue jumped and wealth- management profit margins climbed.
Second-quarter net income rose to $980 million, or 41 cents a share, from $591 million, or 29 cents, a year earlier, the New York-based company said today in a statement. Excluding accounting gains tied to the firms own debt and a charge related to the purchase of the remaining stake in its brokerage joint venture, profit was 45 cents a share, topping the 43-cent average estimate of 26 analysts surveyed by Bloomberg.
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