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

Morgan Stanley: Record Q1, with AI and private credit in focus

The supplied analysis supports a constructive view of Morgan Stanley's integrated model: strong wealth flows and institutional activity provide current momentum, while AI, digital assets, and private credit are intended to add growth avenues. The thesis is balanced by regulatory, market, liquidity, and cybersecurity risks.

Reported Before market openNYSEFinancial Services $170.75B 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-PO FY2026 Q1

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

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Transcript intelligence

What changed

The supplied analysis identifies new strategic developments: the Equity Zen acquisition closed, a digital-asset pilot with Zero Hash launched for select clients, and Anthropic's Claude Mythos entered beta for internal efficiency and advisory tools.

Guidance delta

Guidance sentiment was maintained; no change was identified in the supplied analysis.

Key takeaways

  • The supplied analysis describes record first-quarter results and a confident management tone.
  • Wealth Management, institutional activity, AI integration, digital assets, and private credit were identified as key themes.
  • Management highlighted a robust capital position and continued investment in new growth avenues.
  • Geopolitical, regulatory, credit, interest-rate, and cybersecurity risks remain relevant to the outlook.

Management priorities

  • Scale the digital-asset offering with Zero Hash.
  • Use Equity Zen to deepen the private-credit product suite.
  • Accelerate AI integration across advisory, trading, and operations.
  • Continue expanding lending balances and net interest income.
  • Pursue selective mergers and partnerships to broaden the platform.

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Earnings History

Estimate Beat Miss Match
MS-PO 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 ?

ConsensusBuy38 ratings
Bullish2155.3%
Neutral1642.1%
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 33 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-PO 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-PE Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% — Morgan Stanley Q3: Wealth flows and AI financing support growth
MS-PL Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% — Morgan Stanley Q3: Record flows strengthen the integrated-firm case
MS-PA Morgan Stanley FY2026 Q3 · Calendar Q4 2026 +3.4% — Morgan Stanley posts record Q3 as wealth and institutional growth broaden
BAC-PS Bank of America Corporation FY2026 Q3 · Calendar Q4 2026 0.0% — BofA: Loan Growth and NII Support Raised Outlook
BAC-PP Bank of America Corporation FY2026 Q3 · Calendar Q4 2026 0.0% — BofA: Deposit Growth and AI Investment Offset Markets Weakness
BAC-PB Bank of America Corporation FY2026 Q3 · Calendar Q4 2026 0.0% — Bank of America: Strong Organic Growth, Higher 2027 NII Target

Latest beats and misses

Who reports next

Beat on EPS

Missed on EPS

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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.