$1.2 billion versus KBW's $1.4 billion estimate$1.7 billion, beating the $1.5 billion estimate, on gains in"client structuring activity within credit risk management" and credit trading.$804 million versus the $722 million KBW estimate.
"We delivered solid earnings despite a slow start to the year following the turbulent markets in the fourth quarter," CEO James Gorman said in the statement."Our results demonstrated the stability and breadth of our global franchise. Even though risks to the global environment remain, markets have recovered and we are well positioned to serve our clients and invest in our businesses.
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