NEW YORK, April 17 — Morgan Stanley reported a nine per cent drop in quarterly profit today as equities and bond trading fell due to low market volatility.

The bank said earnings attributable to common shareholders fell to US$2.34 billion (RM9.68 billion), or US$1.39 per share, in the first quarter ended March 31, from US$2.58 billion, or US$1.45 per share, a year ago. 

On an adjusted basis, the company earned US$1.33 per share.

Analysts were looking for a profit of US$1.17 per share, according to IBES data from Refinitiv, although it was not clear if the numbers were comparable. — Reuters