Banking giant Morgan Stanley (NYSE: MS) on Wednesday reported strong growth in its first-quarter FY26 revenue and profit. The numbers also came in above Wall Street’s expectations.
Net revenues increased 16% to $20.6 billion from $17.7 billion in the year-ago quarter, exceeding analysts’ estimates. Total non-interest revenues grew 16% from last year to $17.88 billion during the three months, and interest income rose 11% to $15.3 billion.
Net income applicable to the company was $5.6 billion or $3.43 per diluted share in the first quarter, compared to $4.3 billion or $2.60 per share in the same period of fiscal 2025. Earnings topped expectations.
“Institutional Securities benefited from robust client engagement and strength globally. Wealth Management demonstrated continued momentum, with net new assets of $118 billion and fee-based asset flows of $54 billion. These results affirm the capabilities of our Integrated Firm as we deliver a higher plane of operating performance,” said Ted Pick, the bank’s CEO.