NEW YORK: US investment bank Morgan Stanley has achieved a 35% rise in net income for its latest quarter as it followed rivals Lehman Brothers Inc and Bear Stearns Cos in reporting gains from the strengthening stock market.
For its fiscal first quarter ended Feb 29, Morgan Stanley posted a net income of US$1.23bil, up from US$905mil in the equivalent period a year earlier. Net revenue came in at US$6.24bil, up 14% from US$5.47bil.
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