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Morgan Stanley Q4 net revenues surges to $7bn

US-based investment bank Morgan Stanley has registered net revenues of $7bn for the fourth quarter of 2012, compared to $5.7bn, during the same period earlier year.

Income from continuing operations applicable to Morgan Stanley stood at $573m, or $0.28 per diluted share, compared with a loss of $222m, or $0.13 per diluted share, for the same period last fiscal.

For the quarter period ended on 31 December 2012, net income applicable to Morgan Stanley, including discontinued operations, was $0.25 per diluted share, compared to a net loss of $0.15 per diluted share during the year ago quarter.

Institutional Securities segment pre-tax gain from continuing operations was $57m, against a pre-tax loss of $772m, while net revenues were $3bn compared to $2.1bn during the same period last fiscal.

Global Wealth Management Group reported pre-tax income from continuing operations of $581m, versus $238m, while net revenues for the current quarter stood at $3.5bn compared to $3.2bn, during the corresponding period earlier year.

Asset Management pre-tax income from continuing operations was $221m, against $78m, while net revenues were $599m, versus $424m.

Established in 1935, Morgan Stanley trades in 43 countries, manages 1,200 offices and provides various investment banking, securities, investment management and wealth management services.