Companies /Financial Services
Morgan Stanley
NYSE: MS Capital Markets
$190.13
▲ $3.22 (+1.72%) today
Markets closed · 6:55am ET

Morgan Stanley (MS) Q3 2026 Earnings

Reported Oct 14, 2026, 7:39am ET · SEC source
$3.03
Beat +3.91%
EPS · est. $2.92 GAAP
$20.3B
Beat +1.14%
Revenue · est. $20.1B
7 quarters
Consecutive EPS beats

How Did MS Stock React to Q3 2026 Earnings?

% change · around the report
−6%−4%−2%0Oct 14Oct 15report 7:39am ETearnings−1.0%−4.3%
−6%−4%−2%0Oct 14Oct 15earnings−1.0%−4.3%
MS −4.3%S&P 500 −1.0%
−6%−4%−2%0Oct 14Oct 15report 7:39am ETearnings−2.2%−4.3%
−6%−4%−2%0Oct 14Oct 15earnings−2.2%−4.3%
MS −4.3%NASDAQ −2.2%
−3%0+3%Oct 13Oct 22report 7:39am ETearnings−1.7%−1.1%
−3%0+3%Oct 13Oct 22earnings−1.7%−1.1%
MS −1.1%S&P 500 −1.7%
−3%0+3%Oct 13Oct 22report 7:39am ETearnings−4.0%−1.1%
−3%0+3%Oct 13Oct 22earnings−4.0%−1.1%
MS −1.1%NASDAQ −4.0%
−2.75%
Day of report
+0.33%
Next session
+3.03%
One week

Did MS Beat Earnings? Q3 2026 Results

Yes. Morgan Stanley reported Q3 2026 earnings of $3.03 a share on Oct 14, 2026, beating the $2.92 consensus estimate by 3.9%. Revenue was $20.3B against a $20.1B estimate.

Morgan Stanley capped a strong third quarter with results that beat Wall Street on both the top and bottom lines, extending its run of consecutive EPS beats to six quarters. The firm posted GAAP diluted EPS of $3.03, clearing the $2.92 consensus estimate by 3.91%, while net revenues of $20.34 billion edged past the $20.11 billion analyst forecast by 1.14%. The headline revenue figure represented a 32.3% decline year-over-year on a reported basis, though the filing context makes clear the underlying business showed meaningful momentum: Institutional Securities was the primary engine, with its Equity franchise surging 41% to $5.80 billion on elevated client engagement, particularly in Asia. Wealth Management added further ballast, delivering record net revenues of $9.06 billion and drawing $232.40 billion in net new assets during the quarter. With total client assets across Wealth and Investment Management reaching $10.50 trillion, the firm's platform scale continued to underpin its operating leverage, reflected in a return on tangible common equity of 22.6%.

Key Takeaways
  • Equity franchise strength driven by client engagement and strength in Asia, with revenues up 41% YoY
  • Record Wealth Management revenues on robust asset management fees and higher net interest income
  • Wealth Management net new assets of $232 billion, with over half associated with IPO-related flows
  • Fee-based flows of $80 billion including a new corporate retirement mandate
  • Advisory revenues up 30% on higher completed M&A activity in the Americas
  • Total client assets across Wealth and Investment Management grew to $10.5 trillion
  • Cumulative impact of lending growth and higher average sweep deposits driving net interest income

“Morgan Stanley reported another strong quarter with net revenues of $20.3 billion, EPS of $3.03 and a ROTCE of 22.6%. The Integrated Firm is connecting the full breadth of Morgan Stanley to deliver differentiated solutions and advice for our clients. Institutional Securities benefited from global strength, led by our Equity franchise, and Wealth Management reported record revenues and added $232 billion in net new assets and $80 billion in fee-based flows. Across Wealth and Investment Management, total client assets grew to $10.5 trillion, demonstrating the scale of our platform and the strength of our franchise. We continue to invest for growth while delivering strong returns for shareholders.”

Morgan Stanley CEO, on the earnings call

MS YoY Financials

Q3 2026 vs Q3 2025 · SEC filings Q3 2025 Q3 2026
$0$9.0B$18.0B$27.0B$30.0B$20.3BRevenue$4.6B$4.9BNet Income$6.0B$6.5BOperating Income
$0$9.0B$18.0B$27.0BRevenueNet IncomeOperating Income
MS income statement, Q3 2026 versus Q3 2025
Metric Q3 2026 Q3 2025 Year over year
Revenue $20.3B $30.0B −32.3%
Net Income $4.9B $4.6B +6.5%
Operating Income $6.5B $6.0B +7.5%

MS Revenue by Segment

Institutional Securities$10.0B+18.0%
Wealth Management$9.1B+10.0%
Equity Trading$5.8B+41.0%
Wealth Management Asset Management$5.5B+16.0%
Fixed Income Trading$2.0B−7.0%
Investment Banking$2.2B+2.0%
Wealth Management Net Interest Income$2.2B+12.0%
Investment Management$1.5B−12.0%

MS Revenue by Geography

Americas$14.4B+6.0%
Asia$4.1B+55.0%
EMEA$1.8B−6.0%

When Does Morgan Stanley Report Next?

Expected report date
Before the open
Release timing

Figures from SEC filings and company reports. Not investment advice.