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Morgan Stanley Profit Rises, Powered by Deal Making, Trading


Morgan Stanley’s earnings provide a look into the quarter on Wall Street.



Photo:

lucas jackson/Reuters

Morgan Stanley’s


MS 0.81%

third-quarter profit rose 36% from a year earlier, thanks to a surge in deal making.

The New York bank reported profit of $3.71 billion, or $1.98 a share. That exceeded the $1.69 expected by analysts polled by FactSet. Revenue was up 26% to $14.75 billion. That beat the expected $13.93 billion.

Advisory revenue more than tripled to $1.27 billion, powered by an industrywide boom in mergers and acquisitions.

Trading revenue also rose. JPMorgan Chase & Co. said Wednesday that its third-quarter trading revenue fell 5%.

Write to Orla McCaffrey at orla.mccaffrey@wsj.com

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