Morgan Stanley profit beats estimates on bond trading strength

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(Reuters) – Morgan Stanley (N:) beat estimates for quarterly profit on Thursday, buoyed by higher revenue from bond trading and M&A advisory fees.

Net income attributable to the company rose marginally to $2.17 billion, or $1.27 per share, in the third quarter ended Sept. 30, from $2.11 billion, or $1.17 per share, a year ago.

Net revenue inched up to $10 billion from $9.9 billion.

Analysts were expecting a profit of $1.11 per share on revenue of $9.6 billion, according to IBES data from Refinitiv.

Morgan Stanley’s shares were up nearly 4% in premarket trading.

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