Overview

• Morgan Stanley posted $3.5 billion in net income, or $2.13 per share, surpassing consensus forecasts for the April–June quarter.
• Equity trading revenue climbed 23% year-over-year to $3.72 billion, marking the highest quarterly total on record.
• Investment banking fees fell 5% to $1.54 billion despite a 42% surge in equity underwriting to $500 million.
• The wealth management division attracted $59.2 billion in net new assets, outpacing analyst predictions for the period.
• Shares opened nearly 4% lower after earnings on investment banking concerns, though management forecast a capital markets recovery.