Morgan Stanley Q3 2025 Earnings Surge on Record Revenue and Deal Boom
Morgan Stanley delivered a blockbuster third quarter, with profit soaring 45% to $4.61 billion as Wall Street's dealmaking frenzy and wealth management growth overpowered economic headwinds. The $2.80 EPS trounced estimates by 33%, marking the firm's largest earnings beat since 2020.
Record-breaking revenue of $18.22 billion—18% above 2024 levels—was fueled by a 44% explosion in investment banking fees. The bank capitalized on resurgent IPO activity and major M&A deals, while equities trading revenue jumped 35% to $4.12 billion. Client assets in the wealth division neared $9 trillion as affluent investors sought shelter in managed portfolios.