Morgan Stanley’s Quarterly Earnings Sees Profit Tumble – But Stock Soars

Key takeaways

• Morgan Stanley’s Q2 earnings surpassed expectations, with its profit fall not as bad as predicted
• The bank’s wealth management division posted record revenue for the quarter
• Morgan Stanley shares soared 6.45% higher by Tuesday’s close – the biggest increase since 2020

Investing down, wealth management way up – that’s the flavor of Morgan Stanley’s second quarter earnings. As the big bank weighs up a new CEO and focuses on driving even more wealth management business to the firm, Wall Street can’t get enough of the beat and pushed Morgan Stanley shares to the biggest jump in years.

The largely positive news rounds out mixed earnings beats from the banks thus far. The sector has stayed the course after the March madness, but with inflation down, the light at the end of the tunnel is in sight. Read on to find out where Morgan Stanley was triumphant this Q2.