Morgan Stanley reported a first-quarter loss of 94 million dollars on Thursday, but still beat Wall Street estimates on stronger-than-expected trading revenue.

According to its report, the New York-based securities firm lost 94 million dollars, or 6 cents a share, in the first three months, which compares with a profit of 968 million dollars in the year-ago period.

The results were affected by one-time accounting charges related to the firm's credit spreads. Stripping out the accounting charge, the firm had a profit of 1.4 billion dollars, or 71 cents a share, which was stronger than analysts had expected.

Its net revenue totaled 6.9 billion for the first quarter, compared with 7.6 billion dollars a year ago.

Excluding the impact of the one-time accounting charges, its revenue was 8.9 billion dollars, higher on both a year-over-year and a quarter-over-quarter basis.