Morgan Stanley (MS) Reports $1.85 Billion In First-Quarter Profit

Morgan Stanley (NYSE: MS) has reported its first-quarter results. The bank reported a profit of $1.85 billion, or $0.99 per share in its first-quarter, compared with a loss of $17 million, or $0.57 per share it reported for the same period last year.

Earnings from continuing operations stood at $1.03 per share. First-quarter revenue stood at $9.08 billion. Analysts surveyed by Thomson Reuters were on average expecting Morgan Stanley to report a profit of $0.57 per share and revenue of $7.94 billion.

Following the first-quarter results, shares of Morgan Stanley are up by 2.92% to $31.34 in pre-market trading in New York today.