James Gorman, chairman and chief executive officer of Morgan Stanley, appears on CNBC’s Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020.
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Morgan Stanley on Thursday posted second-quarter results that blew past analysts’ estimates on stronger-than-expected trading revenue.
The bank generated profit of $3.2 billion, or $1.96 a share, exceeding the $1.12 a share estimate of analysts surveyed by Refinitiv. Revenue climbed roughly 30% to a record $13.4 billion, a surprise increase that exceeded expectations by a full $3 billion.
Morgan Stanley, which is essentially a global investment bank paired with a large wealth management…