Morgan Stanley's income, revenue surged in 2nd quarter

By Ovunc Kutlu

ISTANBUL (AA) – US-based multinational investment bank and financial services company Morgan Stanley increased its income and revenue in the second quarter of this year, according to its financial results statement released Tuesday.

The multinational investment bank and financial services corporation posted a net income of $3.1 billion in the April-June period, up 41% from $2.2 billion in the same period last year.

Total revenue, meanwhile, came in at $15 billion, up nearly 12% from $13.4 billion, during that period.

CEO Ted Pick said in the statement that the company's total client assets increased to $7.2 trillion in the second quarter.

Amid the positive results, Morgan Stanley's stock price was up 2% on the New York Stock Exchange at 11.30 a.m. EDT (1530GMT).