Morgan Stanley, the second-largest securities firm by capital, reported today that its first-quarter profit rose 20% on higher trading revenue.

Profit rose to $1.46 billion, or $1.35 a share, from $1.23 billion, or $1.11 a share, in the prevoius year. Analysts were expecting $1.16 a share. Profit of Morgan’s brokerage unit rocketed to $353 million.

Revenue rose 10% to $6.85 billion from $6.24 billion, last year.

«We continue to see growth opportunities across our businesses,» Morgan Stanley Chief Executive Officer Philip J. Purcell said in a statement today.