NEW YORK CITY (dpa-AFX) - Financial services firm Morgan Stanley (MS)
reported Tuesday that net income applicable to the company's shareholders for
the second quarter decreased 10 percent 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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