Morgan Stanley · MS-PQ · FY2026 Q1 · Calendar Q2 2026
Morgan Stanley posts record Q1 as wealth and equities lead
The quarter supports a constructive operating thesis: record results were accompanied by strong wealth-management flows, record equities revenue and continued investment in technology and new platforms. The evidence is positive, but private-credit liquidity, regulatory changes, geopolitical conditions and execution risks remain important tests.
Earnings scorecard
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Transcript intelligence
What changed
Compared with the prior quarter, the current analysis adds record Q1 revenue and EPS, $118 billion of wealth-management net new assets, record equities revenue, the completed Equity Zen acquisition and a Zero Hash digital-asset pilot. Management continued to emphasize AI and Asian-market growth while flagging private-credit, regulatory and geopolitical risks.
Guidance delta
Management guidance sentiment was maintained; no new quantitative guidance change was supplied.
Key takeaways
- Q1 revenue was $20.6 billion and EPS was $3.43.
- Wealth Management reported $8.5 billion of revenue and $118 billion of net new assets.
- Equities revenue reached a record $5.1 billion.
- Management highlighted AI integration, private credit, digital assets and Asian-market opportunities.
- CET1 was 15.1% and the firm repurchased $1.75 billion of shares.
Management priorities
- Deepen AI use across advisory, trading and operations.
- Scale digital-asset capabilities with Zero Hash.
- Expand private-credit distribution following the Equity Zen acquisition.
- Invest in technology and infrastructure supporting client funnels.
- Pursue growth in Asian markets and increase lending balances.
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Company context
Snapshot as of publicationMorgan Stanley is a global financial holding company that delivers a broad spectrum of financial solutions and offerings to a diverse client base, including businesses, governmental bodies, financial organizations, and private individuals across continents like the Americas, Europe, the Middle East, Africa, and Asia. Its operations are structured into three main divisions: Institutional Securities, Wealth Management, and Investment Management. The Institutional Securities division focuses on capital formation and strategic financial advice, encompassing activities such as underwriting various securities (debt, equity), and offering guidance on corporate transactions like mergers, acquisitions, restructurings, real estate ventures, and project financing. Additionally, this segment delivers equity and fixed income instruments, covering sales, funding, prime brokerage, and market-making.…
Historical context
All MS-PQ earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| MS-PI Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | +3.4% | — | Morgan Stanley Q3: Wealth Management and AI Advisory Lead Growth |
| 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 |
| MS-PL Morgan Stanley | FY2026 Q3 · Calendar Q4 2026 | — | — | Morgan Stanley: Record Q3, strong wealth flows and AI ambitions |
Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- 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.