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Morgan Stanley beats (MS)

James Gorman

Morgan Stanley delivered earnings per share of $1 on revenue of $9.7 billion in the first three months of 2017.

The results were well ahead of analyst estimates. Analysts expected earnings per share of $0.90 on revenue of $9.3 billion, according to Bloomberg.

“We reported one of our strongest quarters in recent years,” Morgan Stanley chief executive James Gorman said.

The beat was driven by a big quarter for the investment banking unit, with revenue of $5.2 billion up sharply from $3.7 billion a year earlier. Net income in the unit almost doubled to $1.7 billion.

That performance was in turn read more >>>

Source:: BusinessInsider.Com

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