Morgan Stanley reports better-than-expected quarterly profit

(Reuters) - Wall Street investment bank Morgan Stanley reported a lower, but better-than-expected, adjusted second-quarter profit on Wednesday, helped by a decline in expenses. The bank said its net income attributable to common shareholders was $1.43 billion, or 75 cents per share, in the quarter ended June 30. Analysts on average had expected earnings of 59 cents per share in the latest quarter, according to Thomson Reuters I/B/E/S. Morgan Stanley reported an adjusted profit of $1.69 billion,