Morgan Stanley Reports Strong Q2 2024 Earnings

By Tamara Parker • Tuesday, July 16 08:05 • Permanent Link

Morgan Stanley (NYSE: MS) has reported its second-quarter earnings for 2024, revealing a significant increase in net revenues compared to the same period last year. The firm's net revenues for the second quarter ended June 30, 2024, were $15.0 billion, marking a notable rise from $13.5 billion in the second quarter of 2023.

The firm's net income applicable to Morgan Stanley also saw a substantial increase, reaching $3.1 billion, or $1.82 per diluted share, compared to net income of $2.2 billion, or $1.24 per diluted share, for the same period a year ago. This improvement in net income and earnings per share reflects the firm's strong performance during the second quarter of 2024.

Morgan Stanley's return on tangible common equity (ROTCE) for the second quarter of 2024 was reported at 17.5%, showing a significant increase from 12.1% in the same period of the previous year. This reflects the firm's improved efficiency and profitability in converting shareholders' equity into profits.

Institutional Securities, a key division of Morgan Stanley, reported net revenues of $7.0 billion for the second quarter of 2024, compared with $5.7 billion in the same period last year. The division's pre-tax income also rose to $2.0 billion from $1.0 billion a year ago, indicating a strong performance across its various segments.

Wealth Management, another important segment for Morgan Stanley, reported net revenues of $6.8 billion for the second quarter of 2024, slightly up from $6.7 billion in the second quarter of 2023. The division's pre-tax margin for the quarter was 26.8%, showcasing its continued ability to generate profits.

Furthermore, Investment Management at Morgan Stanley saw its net revenues increase to $1.4 billion in the second quarter of 2024, up from $1.3 billion in the same period last year. This growth demonstrates the division's success in increasing asset management revenues and delivering strong performance.

The market has reacted to these announcements by moving the company's shares 1.1% to a price of $105.26. Check out the company's full 8-K submission here.

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