Morgan Stanley(US:MS) Zhi Tong Cai Jing·2025-10-15 14:42Core Viewpoint - US bank stocks experienced a broad rally, with Morgan Stanley reporting strong Q3 earnings that exceeded expectations, driven by a rebound in investment banking and robust performance in equity trading [1] Group 1: Morgan Stanley Performance - Morgan Stanley's Q3 net revenue reached $18.22 billion, marking an 18% year-over-year increase and surpassing the forecast of $16.64 billion [1] - The earnings per share for Morgan Stanley were $2.80, with a return on equity of 18%, exceeding the expected $1.34 [1] - Investment banking revenue for Morgan Stanley grew by 44% year-over-year, totaling $2.108 billion, while equity sales and trading revenue was $4.12 billion, significantly above the forecast of $3.41 billion [1] Group 2: Bank of America Performance - Bank of America also reported better-than-expected Q3 earnings, benefiting from a resurgence in merger and acquisition activity that boosted investment banking growth [1] - The bank's Q3 revenue was $28.09 billion, reflecting an 11% year-over-year increase, with earnings per share at $1.06, surpassing market expectations [1]