NEW YORK CITY (dpa-AFX) - Financial services firm Morgan Stanley (MS) reported Wednesday a net profit for the first quarter that increased 30 percent from last year, driven by 16 percent revenue growth and 27 percent lower provisions for credit losses. The firm also declared a quarterly dividend of $1.00 per share.
In Wednesday pre-market trading, MS is currently trading on the NYSE at $188.39, up $5.09 or 2.78 percent.
'Morgan Stanley reported a record quarter. Strong execution resulted in net revenues of $20.6 billion, EPS of $3.43 and a ROTCE of 27.1%,' said Chairman and CEO Ted Pick.
For the first quarter, net income applicable to the company's common shareholders increased to $5.41 billion or $3.43 per share from $4.16 billion or $2.60 per share in the year-ago quarter.
Net revenues for the quarter increased 16 percent to $20.58 billion from $17.74 billion in the same quarter last year.
Net interest income increased 15 percent to $2.70 billion and non-interest income grew 16 percent to $17.88 billion from last year. Total non-interest expenses increased 12 percent to $13.47 billion from last year.
The company's provision for credit losses was $98 million, down 27 percent from $135 million in the year-ago quarter.
Institutional Securities net revenues grew 19 percent to a record $10.72 billion from last year, reflecting strong performance in the Markets businesses driven by robust client engagement on increased market volatility, and strength in Investment Banking led by advisory.
Wealth Management net revenues increased 16 percent to a record $8.53 billion from last year, reflecting strong asset management revenues, robust levels of client activity and higher net interest income.
Wealth Management demonstrated continued momentum, with net new assets of $118 billion and fee-based asset flows of $54 billion.
Investment Management net revenues were $1.54 billion, down 4 percent from $1.60 billion a year ago, driven by increased asset management revenues amid higher average Assets Under management (AUM) of $1.87 trillion.
The company's board of directors declared a $1.00 quarterly dividend per share, payable on May 15, 2026 to common shareholders of record on April 30, 2026.
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