Morgan Stanley Posts Q2 2024 Net Revenues of $15.0 Billion with Net Income Up 41% Year-on-Year

Morgan Stanley reported net revenues of $15.0 billion for the second quarter of 2024, a 12% increase compared with the same period a year earlier. Net income rose 41% year-on-year to approximately $3.1 billion, with earnings per share of $1.82, in results the firm disclosed on Tuesday morning.

INVESTMENT BANKING AND WEALTH MANAGEMENT

Investment banking revenues rose during the quarter. Equity underwriting revenues rose on private placements and higher revenues from IPOs and convertible offerings, while fixed income underwriting revenues increased, primarily on higher non-investment grade issuance.

Wealth management revenues were $6.8 billion in the quarter.

GUIDANCE

Morgan Stanley did not provide specific numerical guidance for the third quarter, consistent with its standard earnings disclosure practice.