Morgan Stanley said Thursday that profit rose 25% in the third quarter from last year, as the investment bank benefitted from a boost in trading revenue as well as higher investment banking fees.
The New York-based firm posted a profit in the third quarter of $2.72 billion, or $1.66 per share, up from $2.2 billion, or $1.27 per share, in the same period a year earlier. The results beat analysts’ expectations. The results included a one-time tax benefit of $113 million.
