Morgan Stanley (MS) has reported 83.48 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $1,666 million, or $0.81 a share in the quarter, compared with $908 million, or $0.39 a share for the same period last year. Revenue during the quarter grew 16.58 percent to $9,021 million from $7,738 million in the previous year period. Non-interest income for the quarter rose 21.44 percent over the last year period to $8,138 million.
James P. Gorman, chairman and chief executive officer, said, "Our quarterly results reflect consistent strong performance, while our annual results show meaningful earnings growth over 2015. We reported solid results in Sales & Trading and Advisory, and record revenues in Wealth Management, while managing expenses prudently. We are optimistic about opportunities in 2017 and beyond and remain focused on serving our clients and achieving our strategic objectives."
At the same time, return on average equity increased 430 basis points to 8.70 percent in the quarter from 4.40 percent in the last year period.
Book value per share was $36.99 for the quarter.
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