LONDON (ShareCast) - (ShareCast News) - US investment bank Morgan Stanley reported its quarterly earnings on Tuesday, comfortably beating analyst estimates for revenue and earnings per share.
The company made 81 cents per share during the final quarter of 2016, taking in $9.02bn in revenue.

Analysts had expected Morgan Stanley to report EPS of 65 cents a share and revenue of $8.47bn.

"We reported solid results in sales and trading and advisory, and record revenues in wealth management, while managing expenses prudently," said MS chairman and chief executive officer James Gorman.

"We are optimistic about opportunities in 2017 and beyond and remain focused on serving our clients and achieving our strategic objectives."

MS said trading in debt securities and stocks boosted revenue, as well as a 173% increase in its fixed-income revenue.

The bank's stock price was up 1.6% at $44.49 in pre-market trading, following an unexpected 28.5% rise since Donald Trump's election victory.

Shareholders are hopeful that Trump will take a more relaxed attitude towards Wall Street and allow the likes of MS and competitors JPMorgan Chase and Goldman Sachs to flourish.

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