(Reuters) - NEW YORK, June 20 - Morgan Stanley on Wednesday said its second-quarter profit rose 40 percent, trouncing expectations as a number of trading and investment banking businesses achieved record results.
The No. 2 investment bank by market value said net income rose to $2.58 billion, or $2.45 a share, in the quarter ended May 31 from $1.84 billion, or $1.75, in the year-earlier period. The results beat the average analyst profit estimate of $2.00 a share, according to Reuters Estimates.
Read more at Reuters.com Market News
The No. 2 investment bank by market value said net income rose to $2.58 billion, or $2.45 a share, in the quarter ended May 31 from $1.84 billion, or $1.75, in the year-earlier period. The results beat the average analyst profit estimate of $2.00 a share, according to Reuters Estimates.
Read more at Reuters.com Market News
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