Morgan Stanley’s Profit Surges in Q1 2017 on Solid Bond Trading

[kreslik.news]

Investment banking giant Morgan Stanley continued an upbeat earnings season for the big US banks, posting a 74 percent rise in the Q1 2017 profits, buoyed by a solid performance for bond-trading. Shares of Morgan Stanley rose 2.4 percent in pre-market trading.

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Earnings soared to $1.93 billion in the three months through March 2017 from $1.13 billion a year earlier, while earnings per share increased to $1 a share from 39 cents in Q1 2016.

The fixed-income sales and trading unit was a standout, recording net revenues of $1.7 billion, ... (read more)