Morgan Stanley reported a fourth-quarter profit, driven by higher revenue at its institutional securities business.
The investment bank reported income from continuing operations of $573 million, or 28 cents per share, compared with a loss of $222 million, or 13 cents per share, a year earlier.
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Analysts had expected the company to earn 27 cents per share, according to Thomson Reuters I/B/E/S.
(Reporting by Anil D'Silva; Editing by Supriya Kurane)