Morgan Stanley Posts 1Q Profit

NEW YORK (AP) _ Morgan Stanley (MS) on Wednesday reported first-quarter profit of $1.93 billion.

The company, based in New York, said it had earnings of $1 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.

The investment bank posted revenue of $10.94 billion in the period. Its adjusted revenue was $9.74 billion.

Morgan Stanley shares have decreased 2.5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 5 percent. The stock has climbed 60 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MS at https://www.zacks.com/ap/MS

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