Investors like Morgan Stanley's earnings

Morgan Stanley's shares rose in premarket trading.

NEW YORK (CNNMoney)

Shares jumped more than 5% in premarket trading.

The bank reported second-quarter net revenue of $8.5 billion, and earnings per share of 43 cents. The bank took a charge of 8 cents related to the acquisition of its remaining 35% stake in brokerage firm Morgan Stanley Smith Barney.

Analysts had expected Morgan Stanley to report a profit of 43 cents per share on revenues of $7.9 billion.

Morgan Stanley's earnings show the bank is having some success in building up its wealth management business -- operations that are safer than its volatile trading business.

Revenues from the wealth management division jumped 10% from last year, while profits surged 60%.

Related: Bank of America profit rises 63%

Its investment banking and trading results also continued to grow.

Morgan Stanley (MS, Fortune 500) is the last big banks to report quarterly earnings. Bank of America (BAC, Fortune 500), JPMorgan Chase (JPM, Fortune 500), Goldman Sachs (GS, Fortune 500) and Wells Fargo (WFC, Fortune 500), all reported earnings that soared well above expectations.

First Published: July 18, 2013: 8:09 AM ET

Anda sedang membaca artikel tentang

Investors like Morgan Stanley's earnings

Dengan url

https://sepakgajah.blogspot.com/2013/07/investors-like-morgan-stanleys-earnings.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Investors like Morgan Stanley's earnings

namun jangan lupa untuk meletakkan link

Investors like Morgan Stanley's earnings

sebagai sumbernya