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Morgan Stanley Nets $2.15 Billion Profit On Accounting Gain

Morgan Stanley Profit

First Posted: 10/19/11 08:48 AM ET Updated: 12/19/11 05:12 AM ET

Morgan Stanley swung to a $2.15 billion profit in the third quarter, helped by a large accounting gain, even as core revenue in trading, banking and wealth management operations fell.

The second-largest U.S. investment bank earned $1.15 per common share, compared with a loss of 7 cents per share in the year-ago quarter.

(Reporting by Lauren Tara LaCapra in New York; editing by John Wallace)

Copyright 2011 Thomson Reuters. Click for Restrictions.

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