Morgan Stanley reported a 55 percent jump in first-quarter earnings as higher revenue from the bank's institutional securities business augmented another strong quarter from wealth management.
Morgan Stanley's shares rose 2.7 percent to $30.70 in pre-market trading on Thursday. (Click here for the latest quote.)
The sixth-largest U.S. bank by assets reported net income applicable to the company of $1.45 billion, or 74 cents per share, compared with $936 million, or 48 cents per share, a year earlier.
Morgan Stanley also said it would buy back up to another $1 billion of shares and double its dividend this year.