Morgan Stanley's second quarter 2026 results set records with $21.3B revenue, driven by strong trading and investment banking.

Morgan Stanley reported record second quarter 2026 results, with net revenues of $21.3 billion, up 27% year-over-year and beating estimates by 10%. Diluted EPS of $3.46 also significantly surpassed expectations of $2.89.

Key Highlights

• Institutional Securities delivered record net revenues of $11.0 billion, a 44% increase YoY, driven by a 69% surge in Equity revenues to $6.3 billion and a 58% jump in Investment Banking to $2.4 billion.
• Wealth Management also posted record performance with net revenues of $8.9 billion and attracted a record $148.1 billion in net new assets during the quarter.
• The firm reported a strong Return on Tangible Common Equity (ROTCE) of 26.6%, a significant increase from 18.2% in the prior year's quarter.
• Morgan Stanley repurchased $1.5 billion of its stock and announced a new $20 billion share repurchase authorization.