Morgan Stanley (MS) Reports Q1 Earnings: What Key Metrics Have to Say

Core Insights - Morgan Stanley reported $15.14 billion in revenue for Q1 2024, a year-over-year increase of 4.3% and a surprise of +4.60% over the Zacks Consensus Estimate of $14.47 billion [1] - The EPS for the same period was $2.02, compared to $1.70 a year ago, representing a surprise of +19.53% over the consensus estimate of $1.69 [1] Financial Metrics - Book value per common share was $55.60, exceeding the average estimate of $53.22 [2] - Return on average common equity was 14.5%, higher than the estimated 12% [2] - Total client assets in Wealth Management reached $5,495 billion, surpassing the average estimate of $5,104.9 billion [2] - Total assets under management were $1,505 billion, compared to the average estimate of $1,459.92 billion [2] - Net revenues from Investment Management were $1.38 billion, slightly below the average estimate of $1.41 billion, but a year-over-year increase of +6.8% [2] - Net revenues from Institutional Securities were $7.02 billion, exceeding the average estimate of $6.38 billion, with a year-over-year change of +3.2% [2] - Wealth Management net interest income was $1.86 billion, slightly above the average estimate of $1.84 billion, but a year-over-year decrease of -14% [2] - Investment banking revenues from underwriting were $986 million, significantly above the average estimate of $741.89 million, with a year-over-year increase of +61.9% [2] - Total investment banking revenues were $1.59 billion, compared to the average estimate of $1.29 billion, representing a year-over-year increase of +19.5% [2] - Commissions and fees revenues were $1.23 billion, slightly above the average estimate of $1.20 billion, with a year-over-year change of -1% [2] - Fixed income sales and trading revenues were $2.49 billion, exceeding the average estimate of $2.28 billion, with a year-over-year decrease of -3.5% [2] - Equity sales and trading revenues were $2.84 billion, surpassing the average estimate of $2.63 billion, with a year-over-year increase of +4.1% [2] Stock Performance - Morgan Stanley shares returned -1.1% over the past month, compared to the S&P 500 composite's -0.9% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]