Morgan Stanley's 4th-quarter earnings beat expectations as annual revenues hit record high despite gloom in wider economy

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Morgan Stanley's 4th-quarter results beat estimates, highlighting the resilience of the Wall Street giants despite the economic gloom over the US.

Morgan Stanley beat Wall Street expectations with its 4th-quarter earnings, posting a profit of $3.4 billion in the final quarter of the year as trading thrived and the economic outlook brightened.on Wednesday, up from $1.30 a year earlier and beating expectations for $1.27.

"The firm produced a very strong quarter and record full-year results, with excellent performance across all three businesses and geographies," said chairman and chief executive James Gorman.GOLDMAN SACHS: Buy these 25 stocks best-positioned to juice profits in 2021 as stimulus and vaccine progress spur economic growth

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