Morgan Stanley reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, net revenue was $9,021 million against $7,738 million a year ago. Income from continuing operations before tax was $2,246 million against $1,439 million a year ago. Earnings applicable to the company’s common shareholders were $1,509 million against $753 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. Return on average common equity was 8.7% against 4.4% a year ago. For the year, net revenue was $34,631 million against $35,155 million a year ago. Income from continuing operations before tax was $8,848 million against $8,495 million a year ago. Earnings applicable to the company’s common shareholders were $5,508 million against $753 million a year ago. Earnings per diluted share from continuing operations were $2.92 against $2.90 a year ago. Return on average common equity was 8.0% against 8.5% a year ago.