# Morgan Stanley (MS) — Earnings

MS · NYSE · Stock

Canonical page: https://www.lighthorse.io/tickers/ms/earnings

## Most recent quarter

| Metric | Value |
| --- | --- |
| Fiscal period | Q2 2026 |
| Period end | Jun 30, 2026 |
| EPS actual | $3.46 |
| EPS estimate | $2.93 |
| EPS surprise | +17.96% |
| Revenue surprise | +8.50% |
| Revenue | $21.3B |
| Revenue estimate | $19.7B |
| Reported | Jul 15, 2026 |
| SEC filing | [View filing](https://www.sec.gov:443/Archives/edgar/data/895421/000089542126000212/ms-20260630.htm) |
| Earnings call | [Transcript](http://o.thsi.cn/dc-d-stock-america.teleconference/04b4757e-5d42-67eb-a3aa-3f5a99cda4da.html) |

Morgan Stanley reported Q2 2026 results on July 15, 2026. Earnings per share were $3.46, ahead of the $2.93 estimate by 17.96%. Revenue was $21.3 billion, above the $19.7 billion consensus by 8.50%. Compared with Q2 2025, EPS rose about 62% from $2.13 and revenue rose about 27% from $16.8 billion.

The quarter set the highs in the table for both EPS and revenue. Annual EPS was $6.34 in 2022 and $5.17 in 2023, then rose to $7.94 in 2024 and $10.21 in 2025. Revenue grew from $54.2 billion in 2023 to $70.6 billion in 2025. The first half of 2026 adds up to $6.89 per share, about 46% more than the same period a year earlier. The low in the table was Q4 2023, at $0.85 per share. Over the last 20 quarters, Morgan Stanley beat the EPS estimate 18 times. The two misses were Q2 2022 and Q4 2023. Its largest beat was 33.23% in Q3 2025.

Morgan Stanley reported Q3 between October 14 and October 18 in each of the last five years. That points to mid-October 2026 for the next report. It will show whether earnings hold near the first-half levels.

## Earnings history

| Fiscal period | Report date | EPS estimate | EPS actual | Surprise | Revenue estimate | Revenue actual |
| --- | --- | --- | --- | --- | --- | --- |
| Q2 2026 | Jul 15, 2026 | $2.93 | $3.46 | 17.96% | $19.7B | $21.3B |
| Q1 2026 | Apr 15, 2026 | $3.02 | $3.43 | 13.46% | $19.7B | $20.6B |
| Q4 2025 | Jan 15, 2026 | $2.42 | $2.68 | 10.67% | $17.7B | $17.9B |
| Q3 2025 | Oct 15, 2025 | $2.10 | $2.80 | 33.23% | $16.7B | $18.2B |
| Q2 2025 | Jul 16, 2025 | $1.98 | $2.13 | 7.47% | $16.1B | $16.8B |
| Q1 2025 | Apr 11, 2025 | $2.21 | $2.60 | 17.84% | $16.5B | $17.7B |
| Q4 2024 | Jan 16, 2025 | $1.70 | $2.22 | 30.77% | $15.0B | $16.2B |
| Q3 2024 | Oct 16, 2024 | $1.59 | $1.88 | 18.01% | $14.4B | $15.4B |
| Q2 2024 | Jul 16, 2024 | $1.65 | $1.82 | 10.08% | $14.3B | $15.0B |
| Q1 2024 | Apr 16, 2024 | $1.67 | $2.02 | 20.83% | $14.4B | $15.1B |
| Q4 2023 | Jan 16, 2024 | $1.07 | $0.85 | -20.84% | $12.8B | $12.9B |
| Q3 2023 | Oct 18, 2023 | $1.31 | $1.38 | 5.44% | $13.2B | $13.3B |
| Q2 2023 | Jul 18, 2023 | $1.20 | $1.24 | 3.20% | $13.0B | $13.5B |
| Q1 2023 | Apr 19, 2023 | $1.68 | $1.70 | 1.18% | $14.0B | $14.5B |
| Q4 2022 | Jan 17, 2023 | $1.25 | $1.31 | 4.72% | $12.5B | $12.7B |
| Q3 2022 | Oct 14, 2022 | $1.52 | $1.53 | 0.84% | $13.3B | $13.0B |
| Q2 2022 | Jul 14, 2022 | $1.56 | $1.44 | -7.92% | $13.4B | $13.1B |
| Q1 2022 | Apr 14, 2022 | $1.71 | $2.06 | 20.21% | $14.2B | $14.8B |
| Q4 2021 | Jan 19, 2022 | $1.94 | $2.08 | 7.01% | $14.6B | $14.5B |
| Q3 2021 | Oct 14, 2021 | $1.69 | $2.04 | 20.65% | $13.9B | $14.8B |

## Frequently Asked Questions

### When did Morgan Stanley (MS) last report earnings?

Morgan Stanley last reported on Jul 15, 2026, covering fiscal Q2 2026.

### Did MS beat earnings estimates?

Yes. Morgan Stanley reported EPS of $3.46 for Q2 2026 against a $2.93 estimate — a 17.96% beat.

### How much revenue did MS report last quarter?

Morgan Stanley reported $21.3B in revenue for Q2 2026, against a consensus estimate of $19.7B.

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Earnings figures may be restated, revised or corrected by the issuer. Past results do not indicate future performance.

This page is for informational purposes only. Nothing on it is a recommendation, solicitation or offer to buy or sell any security, nor investment, legal or tax advice. Light Horse Securities Inc does not verify third-party data and is not responsible for its accuracy, completeness or timeliness.

Data provided by [AInvest](https://www.ainvest.com).