Morgan Stanley (MS) reported a first-quarter profit that more than doubled from last year, reflecting strong performance across all of its business segment. Net revenues for the quarter grew 61 percent from the previous year. Quarterly adjusted earnings per share beat analysts' estimates.
Net income applicable to common shareholders for the first-quarter more than doubled to $3.98 billion or $2.19 per share, from $1.59 billion or $1.01 per share in the same quarter last year.
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