Morgan Stanley's revenue and profit hit records on a surge in stock trading

Equities trading revenue jumped 69% to $6.3 billion in the second quarter, powering the bank to $21.35 billion in total revenue

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Morgan Stanley $MS reported record quarterly revenue and profit on Wednesday, driven by a 69% surge in equities trading revenue that far exceeded analyst expectations.

The bank posted net revenue of $21.35 billion for the second quarter ended June 30, up 27% from $16.8 billion a year earlier. Net income rose 58% to $5.58 billion, or $3.46 per diluted share, compared with $3.54 billion, or $2.13 per diluted share, in the same period last year.

Analysts........

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