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Mar 31
Morgan Stanley Q1 2025 Earnings Report
Morgan Stanley reported strong Q1 results with record revenues and solid profitability.
Key Takeaways
Morgan Stanley delivered a strong first quarter in 2025, with record net revenues of $17.7 billion, a 16% increase in net income year-over-year, and robust performance in Institutional Securities led by Equity trading.
Achieved record net revenues of $17.7 billion for the quarter.
Net income rose to $4.3 billion, up from $3.4 billion a year ago.
Institutional Securities led by Equity delivered record $4.1 billion in revenues.
Wealth and Investment Management added $94 billion in net new assets, bringing total client assets to $7.7 trillion.
Morgan Stanley
Morgan Stanley
Morgan Stanley Revenue by Segment
Revenue by Segment
Institutional Securities Revenue
CapyFin.comWealth Management Revenue
CapyFin.comInvestment Management Revenue
CapyFin.com Forward Guidance
The firm is optimistic about continued growth with strong momentum across core business segments.
Positive Outlook
- Strong Equity trading driven by client activity and volatility.
- Consistent net new asset growth in Wealth Management.
- Positive long-term flows in Investment Management.
- Solid capital position with CET1 at 15.3%.
- Improved efficiency ratio at 68%.
Challenges Ahead
- Severance costs of $144 million impacted expenses.
- Fixed income underwriting faced lower results in some areas.
- Decline in Equity underwriting revenues year-over-year.
- Lower sweep deposits affected net interest income.
- Provision for credit losses increased due to macroeconomic forecasts.