Morgan Stanley on Wednesday reported outsize third-quarter earnings that blew past Wall Street’s forecasts — as revenue from its stock trading desk surpassed even the eye-popping results from its archrivals at Goldman Sachs.

Equities trading revenue jumped 35% to $4.12 billion – obliterating expectations of a 6.6% increase. The bank’s stock traders brought in $720 million more than analysts had expected, just after recording their best second quarter ever.

That beat $3.74 billion from Goldman Sachs , which has dominated equities trading in recent years. Ted Pick – Morgan Stanley’s notoriously foul-mouthed boss – has been eager to usurp the Wall Street rival. 3

Profit at the bank jumped 45% from a year earlier to $4.61 billion, or $2.80 a share, above expectations of $2.10 a share

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