Morgan Stanley announced first-quarter results on Wednesday, posting net income of $5.57 billion, earnings per share of $3.43 above expectations of $3.02, and record revenue of $20.58 billion up 16% year-over-year. Trading segments showed strong growth, with equities revenue at a record $5.15 billion (up 25%) and fixed-income at $3.36 billion (up 29%). Shares rose nearly 5% intraday amid peer banks like Bank of America also beating estimates.