Investing.com - Morgan Stanley reported third quarter earnings that beat analyst's expectations on Tuesday and revenue that topped forecasts.
The firm reported earnings per share of $1.17, a 26% increase versus a year ago. Revenue came in at $9.87 billion, compared to $9.2 billion a year ago.
Analysts polled by Investing.com anticipated EPS of $1.02 on revenue of $9.56 billion.
“Despite the seasonal summer slowdown in the third quarter, we reported solid revenue and earnings growth demonstrating the stability of the franchise,” Chief Executive James Gorman said.
“We remain well positioned and optimistic for the remainder of the year,” he added.
At 7:07 AM ET (11:07 GMT), Morgan Stanley shares (NYSE:MS) jumped 1.69% to trade at $44.20 in pre-market trade.
For the year, Morgan Stanley shares are down 17.61% as of Monday's close, under-performing the S&P Global 100 which is down 0.49% year to date.
Morgan Stanley follows other major Financial sector earnings this month
On Friday, JPMorgan (NYSE:JPM) reported third quarter EPS of $2.34 on revenue of $27.82B, compared to forecasts of EPS of $2.26 on revenue of $27.44B.
Bank of America (NYSE:BAC) earnings beat analyst's expectations on Monday, with third quarter EPS of $0.66 on revenue of $22.78B. Investing.com analysts expected EPS of $0.62 on revenue of $22.62B
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar