NEW YORK CITY (dpa-AFX) - (Amended: corrects headline and intro to say Net
profit increased)

Financial services firm Morgan Stanley (MS) reported Tuesday that net income
applicable to the company's shareholders for the second quarter jumped to $2.94
billion or $1.82 per share from $2.05 billion or $1.24 per share in the year-ago
quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report
earnings of $1.65 per share for the quarter. Analysts' estimates typically
exclude special items.

Net revenues for the quarter increased 12 percent to $15.02 billion from $13.46
billion in the same quarter last year. Analysts expected revenues of $14.30
billion for the quarter.

Net interest income increased 3 percent to $2.07 billion and non-interest income
grew 13 percent to $12.95 billion from last year. Total non-interest expenses
increased 4 percent to $10.87 billion from last year.

The company's provision for credit losses was $76 million, compared to $161
million in the year-ago quarter.

The company's board of directors declared a $0.925 quarterly dividend per share,
payable on August 15, 2024 to common shareholders of record on July 31, 2024.

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