Morgan Stanley delivered a record quarter to close out Wall Street’s earnings week, reporting first-quarter net revenues of $20.6 billion and net income of $5.6 billion as record equities trading and steady wealth-management inflows powered results. The Midtown Manhattan firm released the numbers April 15, 2026.

The quarter

Earnings were $3.43 per diluted share, up sharply from $2.60 a year earlier, when the firm reported net income of $4.3 billion, according to its earnings release. Net revenues rose from $17.7 billion a year ago. Return on tangible common equity reached 27.1%, among the strongest profitability readings in the firm’s recent history.

Chairman and Chief Executive Ted Pick said Morgan Stanley reported a record quarter, crediting strong execution across its businesses for the $20.6 billion in net revenues, $3.43 in EPS and 27.1% return on tangible common equity.

Institutional Securities

The firm’s Institutional Securities arm generated $10.7 billion in revenues, with what the company described as broad-based strength across business lines and geographies. Equities revenues of $5.1 billion were the highest the segment has ever reported, and fixed-income revenues of $3.4 billion marked a post-crisis record.

Advisory revenues climbed to $978 million, up 74% year-over-year, led by completed merger-and-acquisition activity in the Americas — another data point in the broader rebound in dealmaking that has lifted Goldman Sachs and JPMorgan Chase in the same reporting window.

Wealth Management

Morgan Stanley’s Wealth Management division, the cornerstone of its post-2008 strategy, sustained its momentum with net new assets of $118 billion and fee-based asset flows of $54 billion. The unit has been central to the firm’s effort to balance the volatility of trading and investment banking with recurring fee income, smoothing earnings across market cycles.

A New York anchor

Morgan Stanley, headquartered at 1585 Broadway near Times Square, is one of New York City’s largest private employers. Its record results, posted alongside strong quarters from JPMorgan Chase and Goldman Sachs, reinforce a stabilizing picture for the city’s finance sector — a cluster whose payrolls, bonuses and office demand feed directly into Manhattan’s commercial real estate market and the city’s tax base.

The trio of records caps a banking earnings cycle in which trading desks profited from market volatility while a thawing M&A market lifted advisory fees across the New York-centered firms.

Verification

Frequently Asked Questions

How much did Morgan Stanley earn in Q1 2026?
Morgan Stanley reported net income of $5.6 billion, or $3.43 per diluted share, for the first quarter of 2026 — up from $4.3 billion, or $2.60 per share, a year earlier. Net revenues were a record $20.6 billion. Results were released April 15, 2026.
Where is Morgan Stanley headquartered?
Morgan Stanley is headquartered at 1585 Broadway in Midtown Manhattan, near Times Square, and is one of New York City's largest financial-services employers. It trades on the NYSE under the ticker MS.
How did wealth management perform?
Wealth Management drew net new assets of $118 billion and fee-based asset flows of $54 billion in the quarter, sustaining the franchise that has anchored Morgan Stanley's strategy of pairing volatile trading with steadier fee income.
What did CEO Ted Pick say?
Chairman and CEO Ted Pick said Morgan Stanley reported a record quarter, citing net revenues of $20.6 billion, EPS of $3.43 and a return on tangible common equity of 27.1%, which he attributed to strong execution across the firm.