Morgan Stanley (MS) posted better-than-expected first-quarter results on the back of record stock-trading revenue amid volatile markets.
The bank reported earnings per share (EPS) of $2.60 on record revenue of $17.74 billion. Analysts polled by Visible Alpha had expected $2.18 and $16.44 billion, respectively.
Morgan Stanley’s results were powered by equity revenue that soared 45% year-over-year to a record $4.13 billion. The bank said it posted “increases across business lines and regions, particularly in Asia, with outperformance in prime brokerage and derivatives driven by strong client activity amid a more volatile trading environment.”
Morgan Stanley shares were down about 1% in recent trading but have risen more than 20% in the past 12 months.
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