Huffpost Business

Morgan Stanley Profits Up 39 Percent, Far Outpace Goldman Sachs

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Morgan Stanley, the No. 2 U.S. investment bank, on Wednesday reported fees from advising clients on acquisitions and stock trading lifted second-quarter profit 39 percent from the year-ago period.

For the three months ended May 31, profit after paying preferred dividends rose to $2.57 billion, or $2.45 per share, from $1.84 billion, or $1.75 per share a year earlier.