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Morgan Stanley Just Posted Its First Quarter Above $20 Billion in Revenue

Published Apr 15, 2026
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Summary:
  • Morgan Stanley reported Q1 revenue of $20.58 billion - a record - with profit jumping 29% to $5.57 billion.
  • Earnings per share hit $3.43, beating the $3.02 consensus by 13.6%.
  • The firm's trading and investment banking arm posted record revenue of $10.7 billion,

with investment banking alone jumping 36%. Morgan Stanley has never had a quarter like this. The bank reported $20.58 billion in Q1 revenue - the first time it's crossed the $20 billion mark - beating Wall Street's $19.7 billion estimate. Profit rose 29% to $5.57 billion, or $3.43 per share, topping the $3.02 consensus by a wide margin.

Record Results Across the Board

The firm's trading and investment banking arm - Institutional Securities - posted $10.7 billion in record revenue, with investment banking alone jumping 36% as dealmaking picked up after years of slow activity.

Wealth Management also hit a record at $8.5 billion in revenue, pulling in $118.4 billion in new client money during the quarter. When both your trading desk and your wealth business hit all-time highs in the same quarter, it shows up in the bottom line.

Capital Returns

Morgan Stanley bought back $1.75 billion in stock and declared a $1.00 dividend per share, with its capital ratio sitting at 15.1% - giving the firm plenty of room to keep returning cash to shareholders.

What to Watch

The question: war-driven market swings boosted trading revenue, and a pickup in deal flow helped investment banking. Whether this pace holds depends on how long the uncertainty lasts - Q1 may have been a peak fueled by conditions that won't repeat.

Bank of America Posts $8.6 Billion in

Profit as Its CEO Calls the Consumer

"Healthy"

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