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Net revenue from the bank's sales and trading business rose 18
percent to $3.76 billion, with fixed income and equity trading
businesses recording gains of 12 percent and 15 percent.
In contrast, rival Goldman Sachs' trading revenue rose 17
percent, with bond trading showing a 45 percent jump and equity
remaining flat in its second quarter.
Net income applicable to Morgan Stanley's shareholders rose 43
percent to $2.27 billion in the quarter ended June 30.
On an adjusted basis, the bank earned $1.25 per share, beating
the average analyst estimate of $1.11 per share, according to
Thomson Reuters I/B/E/S data.
Morgan Stanley's net revenue rose 11.6 percent to $10.61
billion, with institutional securities accounting for 53.8
percent of the gains. Institutional securities business
comprises the bank's investment banking and trading units.
(Reporting By Aparajita Saxena in Bengaluru; Editing by
Saumyadeb Chakrabarty)
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