NYSE$MS
Morgan Stanley · Q2 2026 earnings
Q2 2026 earnings · · Before market open · Investor relations
Briefing
Morgan Stanley reported record net revenues of $21.3 billion, EPS of $3.46 and ROTCE of 26.6% for the second quarter ended June 30, 2026.
Morgan Stanley delivered exceptional results driven by active markets and strong execution across Institutional Securities, Wealth Management and Investment Management. Net revenues rose 27% year-over-year to $21.3 billion while net income applicable to Morgan Stanley increased 58% to $5.6 billion. The firm achieved record quarterly revenues and EPS, added $148 billion in net new assets in Wealth Management, and maintained a strong Standardized CET1 ratio of 14.8%.
- Record net revenues of $21.3 billion and diluted EPS of $3.46, up 27% and 63% year-over-year respectively.
- Institutional Securities posted record net revenues of $11.0 billion with Equity up 69% and Investment Banking up 58%.
- Wealth Management generated record net revenues of $8.9 billion and added a record $148 billion in net new assets.
- ROTCE reached 26.6% and the expense efficiency ratio improved to 65% while Standardized CET1 stood at 14.8%.
Headline financials
Revenue & EPS history
Morgan Stanley · Revenue · Quarterly
$21.3B
Revenue by segment
Morgan Stanley · $21.5B total across 3 segments · Q2 2026
- Institutional Securities$11B—51.2%
- Wealth Management$8.86B—41.1%
- Investment Management$1.65B—7.6%
Forward guidance
The firm reauthorized a multi-year $20 billion share repurchase program beginning in Q3 2026 and increased the quarterly dividend to $1.15 per share.
Tailwinds
- Continued capital accretion providing flexibility for investments and shareholder returns
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
+1.2%
Avg return
Earnings day
+1.9%
Avg return
5 days after
+4.4%
Avg return
30 days after
71%
52 / 73 earnings
Positive
+10.7%
Q4 2012
Best reaction
-9.2%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | +0.0% | +4.0% | +5.0% | |
| Q4 2025 | +6.7% | +4.0% | +5.0% | |
| Q3 2025 | +4.6% | +4.3% | +5.5% | |
| Q2 2025 | +0.5% | -2.5% | +5.8% | |
| Q1 2025 | +1.4% | +1.2% | +14.2% | |
| Q4 2024 | +5.6% | +5.2% | +6.4% | |
| Q3 2024 | +6.4% | +5.4% | +19.5% | |
| Q2 2024 | +1.6% | -3.0% | -4.4% | |
| Q1 2024 | +3.6% | +4.2% | +14.5% | |
| Q4 2023 | -5.9% | -4.9% | -4.5% | |
| Q3 2023 | -9.2% | -10.7% | -0.1% | |
| Q2 2023 | +7.9% | +8.8% | -0.7% | |
| Q1 2023 | +0.6% | +0.4% | -8.5% | |
| Q4 2022 | +5.4% | +5.0% | +8.6% | |
| Q3 2022 | -2.7% | -2.1% | +14.4% | |
| Q2 2022 | +4.1% | +8.9% | +22.2% | |
| Q1 2022 | +2.8% | +5.7% | -4.3% | |
| Q4 2021 | +6.2% | +4.3% | +1.5% | |
| Q3 2021 | +3.6% | +3.2% | +1.3% | |
| Q2 2021 | -1.3% | -0.2% | +12.4% | |
| Q1 2021 | -1.0% | -1.9% | +8.1% | |
| Q4 2020 | -0.4% | -3.5% | +1.3% | |
| Q3 2020 | +2.4% | +1.6% | +11.8% | |
| Q2 2020 | +2.1% | +2.0% | +1.9% | |
| Q1 2020 | +1.8% | -3.8% | -2.9% | |
| Q4 2019 | +8.6% | +5.6% | +5.5% | |
| Q3 2019 | +2.0% | +6.1% | +14.5% | |
| Q2 2019 | +1.4% | +3.0% | -8.8% | |
| Q1 2019 | +1.1% | +0.6% | -6.7% | |
| Q4 2018 | -1.8% | -4.7% | -5.6% | |
| Q3 2018 | +8.6% | +6.8% | +1.9% | |
| Q2 2018 | +1.4% | +3.2% | -1.6% | |
| Q1 2018 | +2.7% | +0.8% | +1.3% | |
| Q4 2017 | +3.8% | +2.8% | -0.4% | |
| Q3 2017 | +2.5% | +3.6% | -0.7% | |
| Q2 2017 | +3.0% | +3.5% | +0.6% | |
| Q1 2017 | +3.1% | +5.7% | +1.4% | |
| Q4 2016 | -2.2% | -2.8% | +5.2% | |
| Q3 2016 | +1.8% | +3.3% | +25.1% | |
| Q2 2016 | +2.4% | +3.3% | +8.4% | |
| Q1 2016 | +2.7% | — | — | |
| Q4 2015 | -2.8% | — | — | |
| Q3 2015 | -5.0% | — | — | |
| Q2 2015 | -0.3% | — | — | |
| Q1 2015 | +0.0% | — | — | |
| Q4 2014 | -0.5% | — | — | |
| Q3 2014 | +2.4% | — | — | |
| Q2 2014 | +0.4% | — | — | |
| Q1 2014 | +3.6% | — | — | |
| Q4 2013 | +2.0% | — | — | |
| Q3 2013 | +1.7% | — | — | |
| Q2 2013 | +4.0% | — | — | |
| Q1 2013 | -4.1% | — | — | |
| Q4 2012 | +10.7% | — | — | |
| Q3 2012 | -5.2% | — | — | |
| Q2 2012 | -8.6% | — | — | |
| Q1 2012 | +0.9% | — | — | |
| Q4 2011 | +1.2% | — | — | |
| Q3 2011 | +3.6% | — | — | |
| Q2 2011 | -9.0% | — | — | |
| Q1 2011 | +0.1% | — | — | |
| Q4 2010 | -3.5% | — | — | |
| Q3 2010 | -3.5% | — | — | |
| Q2 2010 | -1.2% | — | — | |
| Q1 2010 | -0.0% | — | — | |
| Q4 2007 | +1.6% | — | — | |
| Q4 2009 | +1.6% | — | — | |
| Q3 2009 | +3.4% | — | — | |
| Q3 2008 | +3.4% | — | — | |
| Q2 2009 | +0.9% | — | — | |
| Q1 2009 | +0.9% | — | — | |
| Q4 2008 | +0.9% | — | — | |
| Q2 2008 | +0.9% | — | — |
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