19 April 2017•Update: 19 April 2017
By Ovunc Kutlu
NEW YORK
Morgan Stanley saw its net income and revenue increase in the first quarter of the year, according to a financial statement released by the global investment bank Wednesday.
The bank's net income increased 71 percent to $1.93 billion in the first three months of the year, from $1.13 billion during the same period last year.
Morgan Stanley's revenue rose nearly 25 percent to $9.74 billion in the January-March period.
The investment bank boasted revenue of $7.79 billion during that period last year.
After positive financial results, Morgan Stanley's stock price has begun increasing on Wall Street.
After closing Tuesday at $41.21 a share, the bank's stock value climbed to as high as $42.94 per share on Wednesday -- a 4.2 percent gain.
