NEW YORK (AP) — Morgan Stanley says it earned $2.2 billion in the third quarter, largely on accounting gains and increased investment banking revenue.

Morgan Stanley said Thursday its net income available to shareholders was $1.15 a share on $9.9 billion in revenue. Analysts expected earnings of 30 cents per share, according to FactSet.

In the same period a year ago the bank had a loss of $91 million or 7 cents per share.

Morgan Stanley said its revenue was helped by an accounting charge resulting from the deterioration of credit markets in the quarter. Investment banking advisory was up 11 percent due to increased activity from clients.

The stock was flat in pre-opening at $16.63.