Morgan Stanley reported record performance for the third quarter 2026, with net revenues of $20.34 billion and EPS of $3.03, comfortably beating analyst estimates of $19.63 billion and $2.83. The results were driven by unprecedented asset inflows in Wealth Management and exceptional strength in Equity trading, resulting in a return on tangible common equity (ROTCE) of 22.6%.
Key Highlights
- Wealth Management attracted a record $232.4 billion in net new assets, a massive acceleration from the $148 billion reported in the prior quarter, partly driven by IPO-related flows.
- Equity trading revenue surged 41% year-over-year to $5.8 billion, reflecting strong client engagement and global franchise strength, particularly in Asia.
- Total client assets across the Wealth and Investment Management segments reached $10.5 trillion, demonstrating the significant scale of the integrated platform.
- Institutional Securities revenue rose 18% to $10.0 billion, as strength in Equity and Advisory offset a 7% decline in Fixed Income revenue.