Morgan Stanley returned to profit in the fourth quarter of 2012. In the period considered, the bank recorded net income of $481 million (25 cents a share), a clear improvement over the losses of 275 million (-15 cents per share) in the same period of the previous year. Positively surprised analysts.
Earnings, excluding exceptional items, were $894 million (45 cents per share). In the fourth quarter of 2011 the figures spoke of a loss of 349 million (-20 cents per share). Revenue also grew, 23% year-on-year, to $6,9 billion. In this case, the analysts were slightly disappointed, expecting a turnover of 7 billion dollars.
