Morgan Stanley on Thursday topped estimates for fourth quarter earnings and revenue as the firm's equities and fixed income traders exceeded expectations. Here's what the company reported: Earnings: $2.

Morgan Stanley said its profit more than doubled in the fourth quarter, fueled by its investment banking and trading businesses. Profit surged 145% to $3.71 billion. That amounted to $2.22 per share,

Morgan Stanley's investment banking revenue rose 25% to $1.64 billion, echoing results at rivals Goldman Sachs and JPMorgan, which also reported stronger profit on Wednesday. Wall Street banks benefited from a surge in mergers and acquisitions in the fourth quarter that boosted investment banking fees.