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โข EPS: $3.03 (Est. $2.91) โ , +8.2% YoY.
โข Revenue: $20.34B (Est. $20.11B) โ , +11.6% YoY.
โข Net Income: $4.91B, +6.5% YoY.
โข Institutional Securities Revenue: $10.03B, +17.7% YoY.
โข Equity Trading Revenue: $5.80B, +40.9% YoY.
โข Fixed Income Revenue: $2.01B, -7.3% YoY.
โข Investment Banking Revenue: $2.16B, +2.4% YoY.
โข Wealth Management Revenue: $9.07B, +10.1% YoY.
โข Investment Management Revenue: $1.46B, -11.6% YoY.
โข ROTCE: 22.6% | CET1 Ratio: 14.9%.
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โข Q3 EPS beat consensus by ~4.1%, while revenue exceeded estimates by ~1.1%.
โข Equity trading revenue surged 41% YoY to $5.8B, driven by strong client engagement across regions, particularly Asia.
โข Wealth Management delivered record revenue of $9.1B and a 30.4% pre-tax margin, supported by higher asset management fees and net interest income.
โข Wealth Management attracted record net new assets of $232.4B, including $80.5B in fee-based flows, with just over half of net new assets linked to IPO-related activity.
โข Combined Wealth and Investment Management client assets reached $10.5T, highlighting the scale of Morgan Stanley's platform.
โข Investment Banking revenue rose 2%, supported by stronger M&A advisory activity, while Fixed Income revenue declined 7%.
โข Morgan Stanley repurchased $1.54B in shares and declared a quarterly dividend of $1.15 per share.
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๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โInstitutional 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.โ