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MS · Q2 2026

MORGAN STANLEY

Reported 2026-07-15
IN-LINE
39EarnIQ signal
↗

Confidence rising

Mild quarter-over-quarter shift

Strong revenue momentum and record assets highlight exceptional performance, supporting increased shareholder capital returns.

  • ✓Guidance was none, with low specificity.
  • ✓Management tone registered as confident (90/100).
  • ✓EarnIQ detected 0 potential management deflections.
Headline–confidence gap

Mixed evidence

The headline and management signals do not point in one direction (confidence rising).

EPS: reported vs expected+14.1%$3.46 vs $3.03
Revenue: reported vs expected—— vs —
Guidance specificityLowChange not comparable
Market expectations supplied by Finnhub · Reported vs consensus estimate

Active markets and consistent execution across all three regions drove exceptional results for our Integrated Firm, delivering record revenues of over $21 billion and record EPS of $3.46.

Premium intelligence

The evidence behind the signal

Full report
Management language

Why confidence moved

“Active markets and consistent execution across all three regions drove exceptional results for our Integrated Firm, delivering record revenues of over $21 billion and record EPS of $3.46.”
“Wealth Management added a record $148 billion in net new assets, with total client assets across Wealth and Investment Management reaching the $10 trillion milestone.”
“The Integrated Firm is intensifying Morgan Stanley connectivity with clients globally and enhancing financial strength for shareholders.”
Guidance specificity
10/100

Low specificity

No explicit forward-looking financial guidance range was provided in the earnings release.

Pressure point
!

Potential volatility and mark-to-market losses

0 potential deflections detected in management communication.

Narrative break

What changed

Reauthorization of a multi-year share repurchase program of up to $20 billion starting in the third quarter of 2026.

Q&A evidence

Management responses

No material Q&A deflections were detected.

Key positives
  • Record net revenues of $21.3 billion and record EPS of $3.46 with an ROTCE of 26.6%.
  • Wealth Management added a record $148 billion in net new assets, bringing total client assets to $10 trillion.
  • Board reauthorized a multi-year share repurchase program of up to $20 billion and increased the quarterly dividend by 15 cents to $1.15.
Key risks
  • Potential volatility and mark-to-market losses on corporate loans, inclusive of hedges.
  • Higher execution-related and technology expenses impacting non-compensation cost lines.
  • Regulatory capital requirements affecting leverage-based capital ratios such as the SLR.
Topic velocity

Language versus prior quarter

M&ANew
CostNew
ChinaNew
MarginNew
RecordNew
iPhoneNew
Signal composition

What drove the EarnIQ score

Tone+20
Eps Beat+0
Guidance+3
New Signal+8
Miss Penalty+0
Qoq Improvement+8
Deflection Penalty+0