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Morgan Stanley's profit rises despite trading slump

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Morgan Stanley's profit rises despite trading slump

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(Reuters) – Morgan Stanley <MS.N> posted an 11 percent rise in quarterly profit as strength in investment banking and wealth management businesses more than offset a slowdown in trading. Earnings applicable to common shareholders rose to $1.69 billion (£1.27 billion) from $1.52 billion a year ago. Earnings per share rose to 93 cents from 81 cents. Revenue rose 3 percent to $9.20 billion from a year earlier. Analysts had forecast earnings of 81 cents per share and revenue of revenue $9.01 billion, according to Thomson Reuters I/B/E/S. It was not immediately clear if the figures were comparable. Arch rival Goldman Sachs Group Inc <GS.N> is also scheduled to report results on Tuesday.

(Reporting by Sweta Singh in Bengaluru and Olivia Oran in New York; Editing by Saumyadeb Chakrabarty)
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