NEW YORK — Morgan Stanley today reported fourth-quarter net income of $3.7 billion.

The company, based in New York, said it had earnings of $2.01 per share. Earnings, adjusted for non-recurring costs, were $2.08 per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2 per share.

The investment bank posted revenue of $14.85 billion in the period. Its revenue net of interest expense was $14.52 billion, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $14.77 billion.