Morgan Stanley delivered a standout second quarter in 2026, achieving record net revenue of $21.35 billion, an 8.6% beat over consensus, as Wall Street’s five largest banks reported combined net income of around $49 billion. Equities trading revenue reached an all-time high of $6.3 billion, roughly $1.9 billion above analyst forecasts, driven by broad strength including in Asia. Wealth Management posted record quarterly revenue of $8.9 billion with a 30.5% pretax margin, adding a record $148 billion in net new assets to push total client assets above $10 trillion. Diluted earnings per share rose 62.4% year-over-year to $3.46, and first-half return on tangible common equity hit 26.6%. Freedom Broker upgraded the stock to Buy and raised its price target to $245.
Morgan StanleyRecord revenue and earnings beat, with EPS up 62.4% YoY and analyst upgrade to Buy.