NYSE$MS
Morgan Stanley · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported net revenues of $15.4 billion and EPS of $1.88.
Morgan Stanley reported a strong third quarter with net revenues of $15.4 billion and earnings per diluted share of $1.88. The firm's ROTCE was 17.5% for the quarter. Strong performance was seen across business segments, particularly in Institutional Securities, driven by increased client activity and momentum in Investment Banking. Wealth Management also delivered record net revenues, supported by asset management and transactional revenues.
- Net revenues for the third quarter were $15.4 billion, reflecting strength across business segments.
- The Firm delivered ROTCE of 17.5% during the third quarter.
- Expense efficiency ratio was 72% for the third quarter.
- Wealth Management added net new assets of $64 billion and total client assets reached $6 trillion.
Headline financials
Revenue & EPS history
Morgan Stanley · Revenue · Quarterly
$15.4B
Revenue by segment
Morgan Stanley · $13.4B total across 3 segments · Q3 2023
- Wealth Management$6.4B+4.6%47.8%
- Institutional Securities$5.67B-2.5%42.3%
- Investment Management$1.34B+14.4%10.0%
Forward guidance
No specific forward guidance was provided in the earnings report.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2024
+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 |
|---|---|---|---|---|
| Q4 2025 | +6.7% | +4.0% | +5.0% | |
| Q1 2026 | +0.0% | +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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