People walk past Morgan Stanley global headquarters in Manhattan on March 20, 2025 in New York City.
Spencer Platt | Getty Images
Morgan Stanley on Thursday reported fourth-quarter results that exceeded Wall Street expectations on the back of strong revenue from wealth management.
Here’s what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:
- Earnings per share: $2.68 vs. $2.44 expected
- Revenue: $17.89 billion vs. $17.77 billion expected
Fourth-quarter net income rose to $4.40 billion, or $2.68 per share, from $3.71 billion, or $2.22 per share, a year ago. The wealth management unit posted $8.4 billion in net revenue in the most recent quarter, up from $7.5 billion a year earlier. For the full year, the division generated a record $31.8 billion in net revenue.
The bank stock edged up more than 1% in premarket trading following the report.
“Morgan Stanley delivered outstanding performance in 2025,” Ted Pick, the bank’s CEO and chairman, said in a statement. “Our performance reflects multi-year investments which have contributed to growth and momentum across the Integrated Firm.”
Investment banking was also a standout for the firm. Net revenue for the segment jumped 47% to $2.41 billion from $1.64 billion a year earlier, driven by stronger advisory fees as completed M&A activity increased across all regions.
Morgan Stanley shares have gained 38% over the past 12 months, but have fallen nearly 3% so far this week as other big banks reported their results.
JPMorgan Chase topped expectations for fourth-quarter results on strong equities and fixed income trading revenue. Wells Fargo posted weaker-than-expected revenue, while Bank of America
and Citigroup beat consensus estimates.
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