Comment on Morgan Stanley 3Q earns $2.2B, beating estimates

Morgan Stanley 3Q earns $2.2B, beating estimates

share: digg facebook twitter Revenue included an accounting gain of $3.4 billion related to a decrease in the cost of the bank's debt. Because the bank could theoretically buy the debt back at a lower cost, accounting rules require that a gain be recorded. [...] quarter results of investment banking operations at other Wall Street rivals were also hurt by turbulence in financial markets in the third quarter, brought on by the debt crisis in Europe and a downgrade of the U.S.

 

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