Morgan Stanley · MS-PK · FY2026 Q1 · Calendar Q2 2026

Morgan Stanley posts record Q1 revenue as wealth and trading lead

The supplied analysis supports a constructive near-term operating picture: record revenue, strong wealth inflows and robust trading activity outweighed concerns around regulation, private credit and macro volatility.

Reported Before market openNYSEFinancial Services $67.30B market cap
75quality score

Earnings scorecard

Reported versus consensus
Reported EPS $3.43 Consensus $3.02
EPS surprise +13.6% Reported versus consensus
Reported revenue $20.58B Consensus $19.74B
Revenue surprise +4.3% Reported versus consensus

Market reaction

unavailable
Stock move — Event window
SPY move — Same window
Abnormal move — Stock minus SPY
Volume — Versus trailing sessions
Subsequent drift — Up to 20 sessions
Price and volume data were unavailable at publication time.

Ask FN2 about MS-PK FY2026 Q1

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How did the market react to MS-PK FY2026 Q1 earnings, and why?What changed in MS-PK's guidance and outlook in FY2026 Q1?Give me the bull and bear case for MS-PK after FY2026 Q1 earnings.

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Transcript intelligence

What changed

Morgan Stanley highlighted a closed Equity Zen acquisition, a digital-asset pilot with Zero Hash and a bank reorganization intended to move $100 billion of assets onto the U.S. bank platform. The supplied analysis also identified record equity and fixed-income revenue and strong wealth net new assets.

Guidance delta

Management sentiment was maintained; no quantitative guidance change was supplied.

Key takeaways

  • Revenue reached $20.6 billion and EPS was $3.43, according to the supplied analysis.
  • Wealth Management produced $8.5 billion of revenue and $118 billion of net new assets.
  • Equity and fixed-income revenues reached $5.1 billion and $3.4 billion, respectively.
  • Management highlighted AI integration, digital-asset services, Asian expansion and disciplined capital allocation.
  • CET1 was 15.1%, and the firm reported a $1.75 billion share buyback.

Management priorities

  • Continue AI integration across advisory and trading platforms
  • Expand digital-asset services through the Zero Hash partnership
  • Invest in technology and talent across Wealth and Investment Banking
  • Grow the Asian franchise and deepen MUFG partnerships
  • Maintain disciplined capital allocation, including repurchases and strategic acquisitions

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Earnings History

Estimate Beat Miss Match
MS-PK EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q1 '24 actual $2.11, None Q2 '24 actual $1.91, None Q2 '25 estimate $1.98 Q2 '25 actual $222.16, beat Q3 '25 estimate $2.10 Q3 '25 actual $2.90, beat Q4 '25 estimate $2.43 Q4 '25 actual $2.68, beat Q1 '26 estimate $3.02 Q1 '26 actual $3.43, beat Q2 '26 estimate $2.93 Q2 '26 actual $3.46, beat Q3 '26 estimate $2.93 Q3 '26 actual $3.03, beat Q4 '26 estimate $2.92 Q1 '27 estimate $3.60 Q2 '27 estimate $3.41 Q3 '27 estimate $3.39
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Analyst Consensus ?

ConsensusBuy39 ratings
Bullish2256.4%
Neutral1641.0%
Bearish12.6%

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Wolfe Research Peer Perform UnderperformUpgradeOct 19, 2023
Oppenheimer Outperform OutperformMaintainOct 18, 2023
Evercore ISI Group Outperform OutperformMaintainOct 18, 2023
BMO Capital Outperform OutperformMaintainOct 18, 2023
UBS Neutral BuyDowngradeOct 10, 2023
Show 34 more rating actions

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Company context

Snapshot as of publication

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. It operates through Institutional Securities, Wealth Management, and Investment Management segments. The Institutional Securities segment offers capital raising and financial advisory services, including services related to the underwriting of debt, equity, and other securities, as well as advice on mergers and acquisitions, restructurings, real estate, and project finance. This segment also provides sales and trading services, such as sales, financing, prime brokerage, and market-making services in equity and fixed income products consisting of foreign exchange and commodities; corporate and commercial real estate loans, which provides secured lending facilities and financing for sales and trading customers, and asset-backed…

Historical context

All MS-PK earnings
—FY2026 Q3 · Calendar Q4 2026—FY2026 Q2 · Calendar Q3 2026

Financial Services peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
MS-PI Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% — Morgan Stanley Q3: Wealth Management and AI Advisory Lead Growth
MS-PQ Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% — Morgan Stanley Q3: Wealth flows and AI financing support record results
MS Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% -2.7% Morgan Stanley Q3: Wealth Flows and AI Advisory Lead Growth
MS-PF Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% — Morgan Stanley: Wealth flows and AI financing drive record Q3
MS-PO Morgan Stanley FY2026 Q3 · Calendar Q4 2026 — — Morgan Stanley: Wealth flows and equities lead a strong Q3
MS-PE Morgan Stanley FY2026 Q3 · Calendar Q4 2026 — — Morgan Stanley: Wealth flows and AI financing drive a strong Q3

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
  3. Polygon adjusted daily market bars

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-15. For educational purposes only; not investment advice.