Updated Jul 20, 2026
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Morgan Stanley posts record revenue and profit as equities trading surges 69%

NEW YORK, July 20. A 69% surge in equities trading drove Morgan Stanley to record revenue and record profit in the quarter, the company disclosed. Investment banking revenue was also expected to climb, Morgan Stanley said, following results already reported by rivals JPMorgan Chase and Goldman Sachs.

By Mateo Fuentes2 min read
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Key takeaways

  • A 69% surge in equities trading drove Morgan Stanley to record revenue and record profit for the quarter.
  • Morgan Stanley said its investment banking revenue was also expected to climb but did not separately detail the figure in disclosed materials.
  • The firm reported its results after rivals JPMorgan Chase and Goldman Sachs had already posted higher trading and investment banking revenue.
  • The disclosed materials do not show whether the 69% equities gain came from sustained quarter-long activity or a narrower window of elevated conditions.
  • Session-level or volume breakdowns that would clarify the character of the equities trading result were not part of the reported figures.

NEW YORK, July 20. A 69% surge in equities trading drove Morgan Stanley to record revenue and record profit in the quarter, the company disclosed. Investment banking revenue was also expected to climb, Morgan Stanley said, following results already reported by rivals JPMorgan Chase and Goldman Sachs.

Equities trading as the driver

The 69% equities gain pushed both headline lines to records, the company's release shows. Morgan Stanley did not separately detail the investment banking figure in disclosed materials, but the firm said its investment banking business was expected to benefit from the same conditions that lifted rivals' results.

JPMorgan Chase and Goldman Sachs had reported higher trading and investment banking revenue before Morgan Stanley released its numbers. Their disclosures pointed to an environment that favored Wall Street's major trading desks during the period.

What the 69% figure covers

A 69% gain is the headline number. What the disclosed materials do not show is whether that result came from sustained activity across the quarter or from a narrower window of elevated conditions. Morgan Stanley's release confirmed records at both the revenue and profit level. Session-level or volume breakdowns that would clarify the character of the equities trading result were not part of the reported figures.

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Frequently asked

What drove Morgan Stanley to record revenue and profit?

A 69% surge in equities trading drove both the record revenue and record profit for the quarter.

Did Morgan Stanley disclose its investment banking revenue figure?

No; the firm said investment banking was expected to benefit from the same conditions that lifted rivals but did not separately detail the figure in disclosed materials.

How did Morgan Stanley's results compare in timing to its rivals?

Morgan Stanley released its numbers after JPMorgan Chase and Goldman Sachs had already reported higher trading and investment banking revenue.

Does the 69% figure show how the equities gains were distributed over the quarter?

No; the disclosed materials do not reveal whether the gain came from sustained activity or a narrower window, and no session-level or volume breakdowns were reported.