Morgan Stanley reported second-quarter earnings that beat market expectations, with trading revenue reaching an all-time high. Net profit rose to 5.58 billion dollars, or 3.46 dollars per share, from 3.54 billion dollars, or 2.13 dollars per share, a year earlier, surpassing the analyst consensus of 2.94 dollars per share compiled by LSEG. Net revenue climbed to a record 21.35 billion dollars, exceeding the forecast of 19.64 billion dollars. Equity trading revenue surged 69 percent from a year earlier to a record 6.3 billion dollars, while investment banking revenue jumped 58 percent to 2.44 billion dollars. The asset and wealth management business also saw assets under management cross the 10 trillion dollar mark.
Morgan StanleyMorgan Stanley reported Q2 profit and revenue that beat estimates, with record trading revenue.