Morgan Stanley 3Q profit almost doubles

INVESTMENT bank Morgan Stanley says its third-quarter earnings almost doubled as the firm's equity sales and trading revenue rose.

The bank earned $US1.01 billion ($A1.05 billion) from July to September after stripping out an accounting charge. That compares with earnings of $US560 million year earlier.

That profit works out to 50 US cents a share before the charge, compared with 28 US cents a share in the same period a year earlier.

Financial analysts polled by data provider FactSet predicted earnings of 40 US cents.

Analysts generally strip out one-time items.

Equity sales and trading revenues climbed to $US1.7 billion from $US1.3 billion in the period.

Total revenue amounted to $US8.1 billion, up 6.5 per cent from $US7.6 billion a year earlier.

The bank's stock rose 77 US cents, or 2.7 per cent, to $US29.70 in pre-market trading.

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