🔹 Revenue: $16.79B (Est. $16.04B) 🟢; UP +6% YoY
🔹 EPS: $2.13 (Est. $1.97) 🟢; UP +11% YoY
🔹 Net Interest Income: $2.35B (Est. $2.19B) 🟢
Institutional Securities
🔹 Revenue: $6.59B
- Investment Banking: $1.54B (Est. $1.44B) 🟢;+20% YoY
- Equity Trading: $3.72B (Est. $3.53B) 🟢;+9% YoY
- FICC: $2.18B (Est. $2.11B) 🟢;+8% YoY
Wealth Management
🔹 Revenue: $7.76B (Est. $7.35B) 🟢; UP +4% YoY
🔹 Fee-based Flows: $31.3B
🔹 Net New Assets: $56.3B
🔹 Client Assets: $5.2T; UP +11% YoY
🔹 Pretax Margin: 24.3%
Investment Management
🔹 Revenue: $1.44B; FLAT YoY
🔹 Assets Under Management: $1.6T; UP +8% YoY
🔹 Long-term Net Flows: $7.1B
Other Metrics
🔹 Provision for Credit Losses: $196M (Est. $130.8M) 🔴
🔹 Total Deposits: $389.38B (Est. $379.12B) 🟢
🔹 Non-Interest Expenses: $11.97B (Est. $11.51B) 🔴
🔹 Compensation Expenses: $7.19B (Est. $6.89B) 🔴
🔹 ROTCE: 15.0%
🔹 CET1 Ratio: 15.2%
🔹 Book Value/Share: $59.16; UP +6% YoY
🔹 Tangible Book Value/Share: $47.21; UP +7% YoY
CEO Commentary
🔸 “We delivered strong results this quarter, with growth across all three business segments.”
🔸 “Wealth Management remains a core driver, delivering record client assets and solid net new flows.”
🔸 “Our Institutional franchise benefited from active markets and robust client engagement.”