MORGAN STANLEY
For the period ended Mar 31, 2026. Filed May 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 5, 2026
MS$187.56+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Income Statement (Unaudited)
| Three Months EndedMarch 31, | ||
|---|---|---|
| in millions, except per share data | 2026 | 2025 |
| Revenues | ||
| Investment banking | $2,289 | $1,711 |
| Trading | 6,730 | 5,111 |
| Investments | 146 | 369 |
| Commissions and fees | 1,690 | 1,481 |
| Asset management | 6,730 | 5,963 |
| Other | 292 | 751 |
| Total non-interest revenues | 17,877 | 15,386 |
| Interest income | 15,273 | 13,748 |
| Interest expense | 12,570 | 11,395 |
| Net interest | 2,703 | 2,353 |
| Net revenues | 20,580 | 17,739 |
| Provision for credit losses | 98 | 135 |
| Non-interest expenses | ||
| Compensation and benefits | 8,542 | 7,521 |
| Brokerage, clearing and exchange fees | 1,256 | 1,222 |
| Information processing and communications | 1,148 | 1,050 |
| Professional services | 602 | 674 |
| Occupancy and equipment | 483 | 449 |
| Marketing and business development | 310 | 238 |
| Other | 1,130 | 906 |
| Total non-interest expenses | 13,471 | 12,060 |
| Income before provision for income taxes | 7,011 | 5,544 |
| Provision for income taxes | 1,373 | 1,173 |
| Net income | $5,638 | $4,371 |
| Net income applicable to noncontrolling interests | 71 | 56 |
| Net income applicable to Morgan Stanley | $5,567 | $4,315 |
| Preferred stock dividends | 156 | 158 |
| Earnings applicable to Morgan Stanley common shareholders | $5,411 | $4,157 |
| Earnings per common share | ||
| Basic | $3.47 | $2.62 |
| Diluted | $3.43 | $2.60 |
| Average common shares outstanding | ||
| Basic | 1,561 | 1,584 |
| Diluted | 1,576 | 1,600 |
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