Morgan Stanley beats!

Morgan Stanley Chairman and Chief Executive James Gorman speaks during the Institute of International Finance Annual Meeting in Washington October 10, 2014. REUTERS/Joshua Roberts

(Morgan Stanley CEO James Gorman.Thomson Reuters)

Morgan Stanley just reported fourth-quarter earnings that beat on the top and bottom lines.

On Tuesday morning the firm reported earnings per share of $0.81 on revenue of $9.02 billion.

The firm was expected to report adjusted earnings per share of $0.65 on revenue of $8.48 billion.

"We reported solid results in Sales & Trading and Advisory, and record revenues in Wealth Management, while managing expenses prudently," CEO James Gorman said in a statement.

"We are optimistic about opportunities in 2017 and beyond."

Here's the revenue breakdown:

• Trading revenue was $3.2 billion ($2.77 billion expected).

• Investment-banking revenue came in at $1.38 billion ($1.11 billion expected).

• The firm reported record wealth-management revenue of $4.0 billion for the quarter (up from $3.8 billion in the year-ago quarter).

Morgan Stanley beat expectations in the same quarter last year, reporting diluted earnings per share of $0.43 ($0.32 expected) on revenue of $7.86 billion ($7.63 billion expected).

In the third quarter, Morgan Stanley beat expectations and had a record-breaking quarter for wealth management. The firm reported diluted earnings per share of $0.81 ($0.63 expected) on revenue of $8.91 billion ($8.14 billion expected).

Bank of America, JPMorgan, and Wells Fargo reported fourth-quarter earnings last week. Goldman Sachs and Citigroup are set to report on Wednesday.

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