Morgan Stanley reported its third-quarter earnings before the market opened on Wednesday. The bank posted earnings per share of $3.03, beating the consensus estimate of $2.91. Revenue came in at $20.34 billion, exceeding analysts’ expectations of $19.95 billion. The results were expected to benefit from strong investment banking and equities trading activity during the quarter. CEO Ted Pick is expected to address the outlook for mergers and IPOs for the remainder of the year amid market uncertainty caused by rising interest rates.
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