India, July 16 -- Financial services firm Morgan Stanley (MS) reported Wednesday that net income applicable to the company's shareholders for the second quarter grew to $3.39 billion or $2.13 per share from $2.94 billion or $1.82 per share in the year-ago quarter.
On average, 16 analysts polled expected the company to report earnings of $2.01 per share for the quarter. Analysts' estimates typically exclude special items.
The company's provision for credit losses was $196 million, compared to $76 million in the year-ago quarter.
Net revenues for the quarter increased 12 percent to $16.79 billion from $15.02 billion in the same quarter last year. Analysts expected revenues of $16.04 billion for the quarter.
Net interest income increased 1...