Morgan Stanley profit jumps on higher trading revenue

Adjusted earnings according to calculations by Thomson Reuters I/B/E/S were 85 cents per share. Net revenue excluding items rose 10.3 percent to $9.78 billion, beating the average analyst estimate of $9.17 billion. Adjusted revenue from equities sales and trading rose 33 percent to $2.27 billion, meaning that Morgan Stanley lost its lead in the business over Goldman Sachs Group Inc (GS.N), which reported revenue of $2.32 billion for the quarter. Morgan Stanley's own shares were up 2.6 percent at $37.70 in premarket trading on Monday.

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