Obi-Wan Kenobi
/ 178.36.34.* / 2010-04-21 14:43
Morgan Stanley, in its first profit report under Chief Executive Officer James Gorman, posted earnings that beat analysts’ estimates as fixed-income trading revenue more than doubled from a year earlier.
First-quarter net income was $1.78 billion, or 99 cents a share, compared with a loss of $177 million, or 57 cents, in the first quarter of 2009, the New York-based company said today in a statement. Earnings from continuing operations, including a 21-cent tax benefit, were $1.03 a share, compared with the 57- cent average estimate of 24 analysts surveyed by Bloomberg.