Morgan Stanley (MS) Q3 2026 Earnings Call Transcript

Morgan Stanley’s Q3 2026 results highlighted broad-based momentum across its integrated business. CEO Ted Pick and Head of Finance Sharon Yeshaya cited net revenues of $20.3 billion, up from $18.2 billion a year earlier, and diluted earnings per share of $3.03 versus $2.80 in Q3 2025. The firm reported return on tangible common equity of 22.6% for a fifth straight quarter above 20% and total client assets at a record $10.5 trillion, with $400 billion of quarterly growth. Wealth management revenue reached a record $9.1 billion, while net new assets totaled $232.4 billion.