Morgan Stanley reported a 58% rise in second‑quarter profits, with net income of $5.6bn, up from $3.5bn a year earlier and above the $4.7bn consensus.
Equities trading revenue surged almost 70% to $6.3bn; together the five largest investment banks posted $25.7bn in equities trading revenue, up more than 70% year‑over‑year, fueled by AI‑related market activity.
Investment banking revenue jumped nearly 60% to $2.4bn, including $100mn from the SpaceX IPO. Wealth management attracted net new assets of $148bn, far exceeding the $67bn forecast and pushing total client assets to $10tn.
Shares edged up 0.3% in pre‑market trading after a 3% gain the previous session.
Source: Financial Times Companies · Summarized by HeadlinesBriefing