Stimulus Check – Morgan Stanley profit rises on capital market, deal-making boom
July 15 (Reuters) – Morgan Stanley (MS.N) reported a more than 11% jump in quarterly profit on Thursday, as its investment banking business benefited from record levels of activity in deal making and capital markets.
The Wall Street bank said its net income applicable to common shareholders rose to $3.4 billion, or $1.85 per share, in the second quarter ended June 30 from $3.05 billion, or $1.96 per share, a year earlier.
Analysts on average were expecting the bank to report a profit of $1.65 per share, according to IBES data from Refinitiv.
Reporting by Sohini Podder in Bengaluru and Elizabeth Dilts Marshall in New York; editing by Anil D’Silva
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