Investment bank Morgan Stanley says its third-quarter income nearly doubled from a year earlier, helped by strength in its institutional securities and wealth management divisions.
Morgan Stanley earned $US1.71 billion ($A1.85 billion), up from $US889 million in the same period a year earlier. Earnings per share were 84 cents per share, up from 45 cents a year earlier.
Earnings per share, excluding items, were 77 cents. Analysts were expecting 54 cents per share.
Net revenue totalled $US8.9 billion, up from $US7.95 billion a year ago.
Morgan Stanley had a large increase in pre-tax income for its institutional securities business, which includes its prime brokerage, trading and investment banking divisions. The segment earned $US1.2 billion in the quarter, versus $US396 million in the same period a year earlier.
Wealth management, which includes Morgan Stanley's Smith Barney franchise, reported a pre-tax profit of $US836 million, up from $US668 million a year ago.
Morgan Stanley's stock jumped 5.4 per cent in pre-market trading.
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