Morgan Stanley Revenue Up 50 Percent Amid Higher Than Expected Earnings

Lost $1 billion same time last year

Move over Goldman Sachs. Take a seat Jamie Dimon. Morgan Stanley is the new winner on Wall Street.

While other Wall Street banks are emerging from a summer slowdown in their important trading businesses or taking huge hits from law enforcement and regulators, Morgan Stanley posted better-than-expected third quarter earnings from continuing operations of $888 million, or 44 cents per share, compared to a loss of $1 billion in the third quarter of 2012 that included a special accounting charge related to Morgan Stanley's debt holdings.