Morgan Stanley Stock Earnings Reports

Morgan Stanley reported a very strong Q2 2026: record revenues of $21.3 billion and EPS (ex-CVA) of $3.46, driving a first-half revenue of $42 billion and EPS of $6.90. Return on tangible equity (ROTCE) was ~27%. Key business highlights: Institutional Securities delivered a record quarter ($11B revenue) driven by an exceptional equities franchise ($6.3B) and robust investment banking (equity and debt underwriting). Wealth Management produced record revenue ($8.9B) and a record $148 billion of organic net new assets (NNA), with total client assets across Wealth and Investment Management now at $10 trillion and Wealth standalone assets at $8 trillion. Investment Management reached $2 trillion AUM with continued inflows to alternatives and Parametric. The firm emphasized continued investments in technology and AI, higher strategic spend to support infrastructure and product innovation, and disciplined capital management: CET1 capital accretion of ~$18B over 10 quarters, standardized CET1 at 14.8%, $1.5B share repurchases, and a 15% increase in the quarterly dividend to $1.15. Management reiterated an organic-first growth bias while remaining open to high-quality bolt-on opportunities, and flagged two macro themes shaping strategy: accelerating enterprise AI adoption and the return of geopolitics. For investors, the key takeaways are sustained top-line/earnings momentum, strong client-driven asset flows (notably workplace/IPOs), ample capital and liquidity giving strategic flexibility, continued investment in AI/technology that may pressure near-term expenses but should support medium-term growth and efficiency, and commitment to returning capital to shareholders while preserving a healthy capital buffer.