Morgan Stanley reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, net Revenue was $7,738 million against $7,764 million a year ago. Income from continuing operations before tax was $1,439 million against loss from continuing operations before tax of $2,931 million a year ago. Earnings applicable to the company's common shareholders were $753 million against loss applicable to the company's common shareholders of $1,749 million a year ago. Earnings per diluted share from continuing operations were $0.39 against loss per diluted share from continuing operations of $0.91 a year ago. Earnings per diluted share were $0.39 against loss per diluted share of $0.91 a year ago. Return on average common equity was 4.4% against 5.6% a year ago.

For the year, net Revenue was $35,155 million against $34,275 million a year ago. Income from continuing operations before tax was $8,495 million against $3,591 million a year ago. Earnings applicable to the company's common shareholders were $5,671 million against $3,152 million a year ago. Earnings per diluted share from continuing operations were $2.90 against $1.60 a year ago. Earnings per diluted share were $2.70 against $1.39 a year ago. Return on average common equity was 8.5% against 4.8% a year ago.