Morgan Stanley Beats Estimates as Investment Banking Gains

Key TakeawaysMorgan Stanley's first-quarter profit soared as revenue from investment banking, wealth management, and trading grew.Equity underwriting revenue more than doubled on increased IPO activity.Assets under management (AUM) rose by $143 billion to$1.51 trillion. Morgan Stanley (MS) significantly exceeded profit expectations in the first quarter on strong investment banking, wealth management, and trading revenue. The financial firm posted earnings per share (EPS) of $2.02, well above estimates. Rev ...