Overview

• Morgan Stanley's Q2 profit rose to $3.1 billion, driven by a 51% surge in investment banking revenue.
• Bank of America's Q2 net income fell to $6.9 billion, impacted by a 3% drop in net interest income and higher credit loss provisions.
• Morgan Stanley's wealth management revenue saw marginal growth, aligning with Wall Street expectations.
• Bank of America beat earnings per share estimates with $0.83, supported by strong performance in investment banking and wealth management.
• Both banks anticipate future growth, with Bank of America forecasting a rise in net interest income for Q4.