Morgan Stanley Q2 FY2026: record $21.35B revenue, EPS $3.46
Morgan Stanley posted record quarterly net revenues of $21.348 billion and diluted EPS of $3.46, beating the $3.0321 consensus by 14.1% and lifting return on tangible common equity to 26.6%. Read the beat as evidence that the trading and wealth engines ran at full speed at the same time; read the capital actions as management's own confidence signal.
1 · Expected vs. Actual
Free preview belowDiluted EPS of $3.46 beat the $3.0321 consensus estimate by roughly 14.1%. Against last year's $2.13, earnings per share grew 62.4%, while net income applicable to Morgan Stanley rose 57.7% to $5.581 billion. Book value per share climbed to $67.80 from $61.59.
Net revenues were $21.348 billion, up 27.1% from $16.792 billion a year ago and a record for the firm. All three engines grew: Institutional Securities $11.040 billion, Wealth Management $8.856 billion, Investment Management $1.646 billion. There is no cost-of-revenue line here, which is normal for a bank — costs show up as compensation and non-compensation expenses.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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