Morgan Stanley Sees Income, Revenue Increase In Q1

Morgan Stanley saw its income and revenue increase in the first quarter of this year, according to a financial results statement released Tuesday.

The US-based multinational investment bank and financial services holding company posted net earnings applicable to main shareholders of $3.41 billion in the January-March period, which was up 14.4% from $2.98 billion in the same period last year.

Total revenue increased almost 4.3% to $15.14 billion, from $14.52 billion, according to the figures.

"As a result of strong net new asset growth, the Firm has reached $7 trillion of client assets across Wealth and Investment Management," CEO Ted Pick said in the statement.

The bank's stock price was up 3.87% to $90.36 at 10.16 a.m. EDT (1416GMT) from its previous close of $86.99 on the New York Stock Exchange. -