- Morgan Stanley
- 15 January 2026 14:33:58
Source: Sharecast
Revenues came in at a record $17.89bn in the fourth quarter, up from $16.22bn the year before, comfortably ahead of the $17.77bn consensus forecast
Wealth management revenues rose to $8.4bn, up from $7.5bn previously, as asset management revenues rose on higher markets and strong fee-based flows, while transactional revenues and net interest income both grew.
Meanwhile, the institutional securities division also posted solid top-line growth, with revenues rising to $7.9bn from $7.3bn, with investment banking revenues up an impressive 47%.
Group net income jumped to $4.40bn or $2.68 a share in the fourth quarter, up from $3.71bn and $2.22 a share previously, respectively. That was well ahead of the $2.44 a share expected.
Full-year revenues jumped to $70.6bn in 2025 from $61.8bn the year before, helped by a record $31.8bn in wealth management revenues. Group net income rose to $16.9bn from $13.4bn.
Meanwhile, total client assets in wealth and investment management grew to $9.3trn in 2025, helped by $350bn in net new assets.
Chair and chief executive Ted Pick said the bank delivered an "outstanding performance" last year, reflecting multi-year investments which have contributed to growth and momentum".
The stock was up 3.1% at $186.30 in early deals on Wall Street, bouncing back after declines over the past two sessions as earnings from the rest of the banking sector underwhelmed investors.