Morgan Stanley Q3 revenue rises to $20.34 billion on stronger financial activity

• Morgan Stanley (NYSE:MS) reported third-quarter 2026 earnings that exceeded Wall Street expectations, with revenue of $20.34 billion and earnings per share of $3.03.
• The company reported net income of $4.91 billion and return on tangible common equity of 22.6%.
• Strong performance in institutional securities, wealth management, and investment management supported quarterly results.

Morgan Stanley (NYSE:MS) reported third-quarter 2026 financial results, beating analyst expectations on both revenue and earnings.

The company reported earnings per share of $3.03, above consensus estimates ranging from $2.91 to $2.94.

Revenue, net of interest expense, reached $20.34 billion, representing a 12% increase year over year and exceeding analyst expectations of approximately $19.95 billion.

Net income totaled $4.91 billion, while return on tangible common equity reached 22.6%.

The Institutional Securities division generated $10.03 billion in net revenue, supported by equity trading revenue of $5.80 billion and fixed income trading revenue of $2.01 billion.

Morgan Stanley’s Wealth Management business delivered record net revenue of $9.07 billion, adding $232.4 billion in net new assets and $80.5 billion in fee-based flows.

Investment Management generated $1.46 billion in net revenue, with assets under management reaching $2.05 trillion.

The company ended the quarter with a Common Equity Tier 1 ratio of 14.9% and returned capital to shareholders through $1.5 billion in share repurchases and a quarterly dividend of $1.15 per share.

Morgan Stanley provides investment banking, securities trading, wealth management, and investment management services to corporations, institutions, governments, and individuals worldwide.