On Wednesday, Morgan Stanley (NYSE:MS) reported a first-quarter 2026 earnings of $3.43, up from $2.60 a year ago and beating the consensus of $3.00. Net earnings increased to $5.57 billion from $4.32 billion.
Morgan Stanley Beats Estimates On Strong Trading, Dealmaking
The U.S. bank reported revenue of $20.58 billion, up 16% year over year, beating the consensus of $19.724 billion.
Provision for credit losses in the quarter was driven by individual assessments for certain commercial real estate loans in addition to increased macroeconomic uncertainty.
The firm’s expense efficiency ratio was 65% compared to 68% a year ago.
Morgan Stanley’s first-quarter return on tangible common equity was 27.1%, compared to 23.0% a year ago.
Revenue Growth Driven By Market Activity
Institutional Securities reported record net revenues of $10.7 billion, reflecting strong performance in Markets businesses driven …