Morgan Stanley: Beat — EPS $3.03, Revenue $20.34B
Earnings BeatQ3 2026 · Pre-market
@trystockwhiz
Did Morgan Stanley (MS) beat earnings today?
Yes, Morgan Stanley (MS) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+4.12% surprise
$3.03Actual
Expected: $2.91
vs. year ago +8.2%
Total Revenue+1.13% surprise
$20.34BActual
Expected: $20.11B
vs. year ago +11.6%
Released Oct 14 · 7:27 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Net revenues | $20.34B | $18.22B | +11.6% |
| Revenue detail — reported lines | |||
| └─Investment banking | $2.36B | $2.27B | +4.2% |
| └─Trading | $5.60B | $5.02B | +11.6% |
| └─Investments | $(39)M | $374.00M | -110.4% |
| └─Commissions and fees | $1.67B | $1.47B | +13.2% |
| └─Asset management | $7.25B | $6.44B | +12.6% |
| └─Other | $244.00M | $159.00M | +53.5% |
| └─Net interest | $3.25B | $2.49B | +30.5% |
| └─Institutional Securities | $10.03B | $8.52B | +17.7% |
| └─Wealth Management | $9.06B | $8.23B | +10.1% |
| └─Investment Management | $1.46B | $1.65B | -11.6% |
| Net income applicable to Morgan Stanley | $4.91B | $4.61B | +6.5% |
| GAAP Basic EPS | $3.07 | $2.83 | +8.5% |
| GAAP Diluted EPS | $3.03 | $2.80 | +8.2% |
Business Highlights
- ➤The Integrated Firm connected its full breadth to deliver client solutions and advice.
- ➤Institutional Securities benefited from global strength led by the Equity franchise.
- ➤The Equity business saw client engagement and strength in Asia.
- ➤Advisory activity reflected higher completed Americas M&A activity.
- ➤Wealth Management added $232 billion in net new assets.
- ➤Fee-based flows included a new corporate retirement mandate.
- ➤Total client assets across Wealth and Investment Management reached $10.5 trillion.
- ➤The Firm repurchased $1.5 billion of outstanding common stock during the quarter.
- ➤The Board declared a $1.15 quarterly dividend per share payable November 13, 2026.
- ➤Morgan Stanley operates offices in 42 countries serving clients worldwide.
Management Commentary
Ted Pick, Chairman and Chief Executive Officer
“Morgan Stanley reported another strong quarter with net revenues of $20.3 billion, EPS of $3.03 and a ROTCE of 22.6%. The Integrated Firm is connecting the full breadth of Morgan Stanley to deliver differentiated solutions and advice for our clients. Institutional Securities benefited from global strength, led by our Equity franchise, and Wealth Management reported record revenues and added $232 billion in net new assets and $80 billion in fee-based flows. Across Wealth and Investment Management, total client assets grew to $10.5 trillion, demonstrating the scale of our platform and the strength of our franchise. We continue to invest for growth while delivering strong returns for shareholders.”