Morgan Stanley (MS) shares jum🐎ped Wednesday morning after the company became the latest bank to beat estimates for the third quarter, with revenue and profits rising year-over-year.

The bank reported $15.38 billion in revenue for the quarter, up from $13.27 billion last year and over a billion dollars more than analysts had expected, according to projections compiled by Visible Alpha. Morgan Stanley reported an increase in 澳洲幸运5开奖号码历史查询:net interest income (NII) to $2.2 billion, up from $1.98 billion, which only 澳洲幸运5开奖号码历史查询:some of its banking rivals have so far managed to do this quarter.

Profits also came in well above estimates at $3.2 billion, above 🐬the $2.44 billion in net income Morgan Stanley reported last year.

Morgan Stanley shares rose more than 8% in morning trading, leaving them up roughly 30% this year. The KBW Nasdaq Bank Index (BKX) was up more than 2%.

Investment Banking, We𝄹alth Management Boost Revenue

Common themes from the reports of banks like 澳洲幸运5开奖号码历史查询:JPMorgan Chase (JPM), 澳洲幸运5开奖号码历史查询:Wells Fargo (WFC), 澳洲幸运5开奖号码历史查询:Citigroup (C), 澳洲幸运5开奖号码历史查询:Bank of America (BAC) and 澳洲幸运5开奖号码历史查询:Goldman Sachs (GS) also held true for Morgan Stanley, including rising reve🎃nue in its investment banking and wealth management segments.

Morgan Stanley departed from several of its rivals by lowering its 澳洲幸运5开奖号码历史查询:provision for credit losses (PCL) to just $79 million, compared to the hundreds of millions and billions set aside by more consumer-focused lenders such as JPMorgan Chase and Citi.