Morgan Stanley reports $2.2 billion profit

[hue]

Source: CNN Money

NEW YORK (CNNMoney) -- Morgan Stanley reported strong third-quarter earnings and revenue Wednesday that were driven largely by accounting gains.The bank reported net income of $2.2 billion, or $1.14 a share, in the third quarter. That compares with earnings of $313 million, or 5 cents a share, in the same period a year ago.

Analysts were expecting 30 cents a share, according to estimates from Thomson Reuters.

Revenue rose 45% to $9.9 billion. Analysts had forecast sales of $7.4 billion.

Read more: http://money.cnn.com/2011/10/19/news/companies/morgan_stanley/

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The 1% ain't hurting!