Morgan Stanley quarterly profit falls 10per cent

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Morgan Stanley reported a 10per cent fall in quarterly profit on Thursday as low market volatility crimped trading and advisory revenue.

The bank said earnings attributable to Morgan Stanley fell to US$2.20 billion, or US$1.23 per share, in the second quarter ended June 30, from US$2.44 billion, or US$1.

30 per share, a year ago.Analysts were looking for a profit of US$1.14 per share, according to IBES data from Refinitiv, although it was not clear if the numbers were comparable.

 

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