UPDATE: Morgan Stanley Posts Higher Q3 Profit

Morgan Stanley

reported a rise in its third-quarter profit. Morgan Stanley's quarterly profit rose around 80% to $1 billion, from $560 million, in the year-earlier period. Its per share earnings climbed to $0.50 from $0.28. Its revenue surged 7% to $8.1 billion. However, analysts were expecting earnings of $0.40 per share on revenue of $7.6 billion. Morgan Stanley shares gained 2.66% to $29.70 in pre-market trading.