Morgan Stanley (NYSE:MS) reported record second quarter revenue and profit that topped Wall Street expectations on Wednesday, driven by strength across its institutional securities, wealth management and investment management businesses.
The bank posted earnings per diluted share of $3.46 on net revenue of $21.35 billion for the quarter ended June 30, exceeding **** ysts' expectations of $2.93 per share on revenue of $19.63 billion. A year earlier, Morgan Stanley (NYSE:MS) reported earnings per share of $2.13 on revenue of $16.79 billion.
Net income attributable to Morgan Stanley (NYSE:MS) rose to $5.58 billion from $3.54 billion a year earlier, while return on tangible common equity increased to 26.6% from 18.2%.
Institutional Securities generated record revenue of $11.04 billion, up from $7.64 billion a year earlier. Investment banking revenue climbed to $2.44 billion from $1.54 billion, while equities revenue surged to $6.30 billion from $3.72 billion. Fixed income revenue increased to $2.46 billion from $2.18 billion.
Wealth Management reported record revenue of $8.86 billion, compared with $7.76 billion a year earlier. The division attracted a record $148.1 billion in net new **** ets during the quarter, while total client **** ets across wealth and investment management reached $10 trillion.
The bank posted earnings per diluted share of $3.46 on net revenue of $21.35 billion for the quarter ended June 30, exceeding **** ysts' expectations of $2.93 per share on revenue of $19.63 billion. A year earlier, Morgan Stanley (NYSE:MS) reported earnings per share of $2.13 on revenue of $16.79 billion.
Net income attributable to Morgan Stanley (NYSE:MS) rose to $5.58 billion from $3.54 billion a year earlier, while return on tangible common equity increased to 26.6% from 18.2%.
Institutional Securities generated record revenue of $11.04 billion, up from $7.64 billion a year earlier. Investment banking revenue climbed to $2.44 billion from $1.54 billion, while equities revenue surged to $6.30 billion from $3.72 billion. Fixed income revenue increased to $2.46 billion from $2.18 billion.
Wealth Management reported record revenue of $8.86 billion, compared with $7.76 billion a year earlier. The division attracted a record $148.1 billion in net new **** ets during the quarter, while total client **** ets across wealth and investment management reached $10 trillion.
27 days ago
