NEW YORK (AP) — NEW YORK (AP) — Morgan Stanley (MS) on Tuesday reported fourth-quarter net income of $1.52 billion.

The company, based in New York, said it had earnings of 85 cents per share. Earnings, adjusted for non-recurring costs, came to $1.13 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.

The investment bank posted revenue of $25.06 billion in the period. Its revenue net of interest expense was $12.9 billion, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $12.7 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MS at https://www.zacks.com/ap/MS

For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News