Morgan Stanley posts massive third-quarter earnings beat | Morgan Stanley Stock Traders Trounce G…

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Morgan Stanley posts massive third-quarter earnings beat

Morgan Stanley on Wednesday posted third-quarter earnings that topped expectations by the largest margin in nearly five years.

The bank said profit surged 45% from a year earlier to $4.61 billion, or $2.80 per share. Revenue rose 18% to a record $18.22 billion.

Wall Street trading desks have seen booming activity in the quarter, while investment banking continues to see a resurgence in activity for mergers and IPOs. Stocks at or near record highs bolstered Morgan Stanley's giant wealth management division as well.

Put together, Wall Street-centric banks like Morgan Stanley and peer Goldman Sachs are in an ideal environment.

Morgan Stanley said equities trading revenue jumped 35% to $4.12 billion, or $720 million more than what analysts surveyed by StreetAccount had expected. The company cited increased activity across business lines and regions and record results in its prime brokerage business that caters to hedge funds.

Morgan Stanley and BofA smash forecasts with investment bank results

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