Morgan Stanley shares up on earnings

MORGAN Stanley shares are up in pre-market trading after the bank reported higher net income and revenue for the third quarter.

Excluding an accounting charge, the bank earned $US535 million ($A518.03 million) for common shareholders in July to September, up from $US39 million a year ago.

Revenue rose 18 per cent to $US7.5 billion after excluding the charge.

That beat the $US6.4 billion that analysts were expecting.

Revenue rose in most areas where the bank does business.

It was up by the biggest proportion in the asset management unit, which helps clients - mostly institutions - invest in private equity, real estate and other investments.

The stock is up about 1 per cent, rising 16 US cents to $US18.65, in pre-market trading.

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