Morgan Stanley Q2 2026 Revenue Beats Estimates, Equities Trading Surges
Morgan Stanley reported Q2 2026 revenue of $21.35B, beating the $19.58B estimate. Equities sales and trading revenue surged to $6.30B versus the expected $4.47B, while FICC trading slightly missed at $2.46B.
MS
Morgan Stanley's Q2 2026 earnings showed a revenue beat, with total revenue coming in at $21.35 billion against the consensus estimate of $19.58 billion.
Key metrics:
- FICC Sales & Trading Rev: $2.46B (est. $2.56B)
- Equities Sales & Trading Rev: $6.30B (est. $4.47B)
- Total Deposits: $446.07B (est. $432.75B)
- Wealth Management Net Rev: $8.86B (est. $8.68B)
- Non-Interest Expenses: $13.90B (est. $13.28B)
- Provision for Credit Losses: $98M (est. $76.8M)
- Institutional Investment Banking Rev: $2.44B (est. $22B) – a significant miss
- Compensation Expenses: $8.19B (est. $8.15B)
The equities trading desk outperformed sharply, while the institutional investment banking revenue fell far short of expectations. Provision for credit losses came in higher than anticipated.
Source: First Squawk