00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Morgan Stanley beat third quarter expectations driven by strong equities trading results,
00:07according to CNBC. Third quarter earnings came in at $3.03 per share on revenue of $20.34 billion,
00:14beating Wall Street expectations of $2.91 per share and $19.95 billion in revenue.
00:20Profit rose 6.5% to $4.91 billion, while revenue increased 12%.
00:25Equities trading revenue surged 41% to $5.8 billion, driven by broad strength across products
00:32and regions, particularly Asia. Fixed income trading revenue declined 7% to $2.01 billion,
00:38while investment banking revenue rose 2% to $2.16 billion.
00:42CEO Ted Pick cited artificial intelligence investment and geopolitical tensions as competing
00:48forces shaping markets. He expressed cautious optimism about the fourth quarter. Shares fell
00:53about 3% Wednesday. For all things money, visit Benzinga.com.
