Morgan Stanley was back in profit in the fourth quarter of 2012.
The US investment bank reported a net profit of $US481 million in the last three months of the year, compared to a loss of $US275 million in the same period a year earlier. Revenue jumped 37% to $US7.5 billion.
The bank, which has been shedding employees, earned more in fees for financial services. It has cut nearly 4500 jobs and plans to cut another 1300.
Shares jumped 5.5% in early trading.
The BBC reports the profit included a net tax benefit of about $US155 million.
