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Morgan Stanley Reports $4.3B Q1 Profit, Beats Estimates
By Ishika Dangayach - Apr 11, 2025, 08:11 AM ET
Morgan Stanley reported a strong first quarter with net income of $4.3 billion and record revenues of $17.7 billion, beating analyst expectations. Solid performance across Markets and Wealth Management underscored the firm’s strategic momentum.
Morgan Stanley (NYSE: MS) reported robust first-quar ter earnings for the period ending March 31, 2025, with net revenues reaching a record $17.7 billion—up from $15.1 billion a year earlier. The investment bank posted net income of $4.3 billion, or $2.60 per diluted share, compared to $3.4 billion, or $2.02 per share, in the same period last year.
The results exceeded Wall Street expectations. According to Zacks Investment Research , six analysts had forecast revenue net of interest expense at $16.64 billion, while the company delivered $17.74 billion. Total revenue for the period was $29.13 billion.
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Chairman and CEO Ted Pick praised the firm’s performance: “The Integrated Firm delivered a very strong quarter with record net revenues of $17.7 billion and EPS of $2.60, and an ROTCE of 23.0%,” he said.
Wealth Management posted net revenues of $7.3 billion and delivered a pre-tax margin of 26.6% for the quarter. Strong asset management revenues and higher client activity fueled the performance, with $94 billion in net new assets and $30 billion in fee-based asset flows added during the period.
“Institutional Securities strong performance was led by our Markets business with Equity reporting a record $4.1 billion in revenues. Total client assets of $7.7 trillion across Wealth and Investment Management were supported by $94 billion in net new assets. These results demonstrate the consistent execution of our clear strategy to drive durable growth across our global footprint.”
Investment Management also showed solid results, reporting net revenues of $1.6 billion. This was driven primarily by asset management fees from higher average assets under management (AUM), which stood at $1.7 trillion. The business also recorded positive long-term net flows of $5.4 billion for the quarter.
Morgan Stanley’s strong Q1 performance underscores the strength of its diversified business model and continued focus on client-driven growth.
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