Morgan Stanley earnings tops estimates driven by wealth management

Morgan Stanley connected Thursday reported fourth-quarter results that exceeded Wall Street expectations connected the backmost of beardown gross from wealthiness management.

Here's what the institution reported compared with what Wall Street analysts surveyed by LSEG were expecting:

• Earnings per share: $2.68 vs. $2.44 expected
• Revenue: $17.89 cardinal vs. $17.77 cardinal expected

Fourth-quarter nett income roseate to $4.40 billion, oregon $2.68 per share, from $3.71 billion, oregon $2.22 per share, a twelvemonth ago. Revenue accrued to $17.89 cardinal from $16.22 cardinal a twelvemonth ago.

The slope banal edged somewhat little successful premarket trading pursuing the report.

The wealthiness absorption portion posted $8.4 cardinal successful nett gross successful the astir caller quarter, up from $7.5 cardinal a twelvemonth earlier. For the afloat year, the part generated a grounds $31.8 cardinal successful nett revenue.

Total lawsuit assets successful the wealthiness and concern absorption concern climbed to $9.3 trillion, fueled by much than $350 cardinal successful nett caller assets.

"Morgan Stanley delivered outstanding show successful 2025," Ted Pick, the bank's CEO and chairman, said successful a statement. "Our show reflects multi-year investments which person contributed to maturation and momentum crossed the Integrated Firm."

Investment banking was besides a standout for the firm. Net gross for the conception jumped 47% to $2.41 cardinal from $1.64 cardinal a twelvemonth earlier, driven by stronger advisory fees arsenic completed M&A enactment accrued crossed each regions.

The steadfast bought backmost $1.5 cardinal of its communal shares during the 4th and $4.6 cardinal implicit the afloat twelvemonth nether its stock repurchase program.

Morgan Stanley shares person gained 38% implicit the past 12 months, but person fallen astir 3% truthful acold this week arsenic different large banks reported their results.

JPMorgan Chase topped expectations for fourth-quarter results connected beardown equities and fixed income trading revenue. Wells Fargo posted weaker-than-expected revenue, while Bank of America
 and Citigroup beat statement estimates.