Investing.com - Wall Street investment bank Morgan Stanley reported better-than-expected first-quarter earnings ahead of Thursday's opening bell, sending its shares higher in pre-market trade.
Earlier in the day, in its first quarter earnings report, Morgan Stanley said adjusted earnings per share came in at USD0.61, above expectations for USD0.56.
The bank's first quarter adjusted revenue totaled USD8.48 billion, beating expectations for revenue of USD8.35 billion.
The primary adjustments that were made were the negative revenue related to changes in Morgan Stanley's debt-related credit spreads and other credit factors..
Immediately after the earnings announcement, Morgan Stanley shares jumped 2% in trading prior to the opening bell.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow Jones Industrial Average futures indicated a gain of 0.4% at the open, S&P 500 futures pointed to a rise of 0.4% and Nasdaq 100 futures indicated an increase of 0.4%.
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