US banks continue to report third-quarter results.

Morgan Stanley Wealth Management reported pre-tax income from continuing operations of $824 million at end-September 2015, up from $800 million a year ago but down from $885 million on the prior quarter.

Morgan Stanley said revenues from wealth management in Q3 2015 were $3.6 billion, compared with $3.8 billion a year ago, and essentially flat on the second quarter of this year.

Morgan Stanley as a group logged net revenues of $7.8 billion for the third quarter ended 30 September, 2015, compared with $8.9 billion a year ago. Net income meanwhile was $1.0 billion, or $0.48 per diluted share, compared with net income of $1.7 billion, or $0.83 per diluted share, for the same period a year ago. 

Earnings for Q3 2014 included a net discrete tax benefit of $237 million or $0.12 per diluted share, the US-listed bank said.