Morgan Stanley earnings, revenue beat Street

Morgan Stanley building

Morgan Stanley delivered quarterly earnings and revenue that topped analysts' expectations on Monday.

The banking giant posted first-quarter earnings excluding items of 85 per share, up from 68 cents a share in the year-earlier period.

Revenue rose to $9.9 billion from $8.80 billion a year ago.

Wall Street expected Morgan Stanley to deliver quarterly earnings per share of 78 cents on revenue of $9.17 billion, according to a Thomson Reuters consensus estimate.

Morgan Stanley's stock has been underperforming when compared to fellow banking giants Goldman Sachs and JPMorgan Chase .

Last week, both Goldman and JPMorgan reported first-quarter earnings per share that topped analysts' expectations.

Goldman, helped by a burst of trading activity in January when the Swiss central bank removed a cap on the franc, saw profits rise to $5.94 per share, while JPMorgan delivered profits of $1.45 per share.

Last January, Morgan Stanley reported a drop in fourth-quarter adjusted earnings.

-CNBC's Terri Cullen and Reuters contributed to this report.

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