Morgan Stanley's first quarter 2026 results beat estimates, driven by strength in Investment Banking and Wealth Management.

Morgan Stanley reported first quarter 2026 net revenues of $20.6 billion, a 16% increase year-over-year, with diluted EPS of $3.43, up from $2.60 a year ago. The results surpassed analyst estimates for both revenue and earnings.

Key Highlights

• Institutional Securities revenues reached a record $10.7 billion, up 19% YoY, reflecting a 36% rebound in Investment Banking fees to $2.1 billion and a 29% increase in Fixed Income revenues.
• Wealth Management also delivered record revenues of $8.5 billion, up 16% YoY, while adding $118.4 billion in net new assets during the quarter.
• The firm reported a Return on Tangible Common Equity (ROTCE) of 27.1%, an increase from 23.0% in the same quarter last year.