Morgan Stanley Delivers Solid Q1 2024 Performance

Morgan Stanley published its financial results for the first quarter ended March 31, 2024 (Q1 2024), showcasing overall growth across multiple business sectors.

Financial Summary for Q1 2024:

• Net revenues totaled $15.14 billion for the period, an increase of 4.3% compared to $14.52 billion on a year-on-year basis (YoY). When divided by business sectors, net revenues of Institutional Securities rose by 3.2% from $6.80 billion in Q1 2023 to $7.02 billion; net revenues of Wealth Management rose by 4.9% YoY from $6.56 billion to $6.88 billion; and net revenues of Investment Management rose by 6.8% YoY from $1.29 billion to $1.38 billion.

• Pre-tax income for the quarter came in at $4.40 billion, increasing 16.9% compared to $3.76 billion in the same period of last year.

• Net income applicable to Morgan Stanley amounted to $3.41 billion, an increase of 14.5% compared to $2.98 billion in the year-ago quarter.

• Morgan Stanley delivered ROTCE of 19.7% for Q1 2024, compared with 16.9% in Q1 2023.

• Earnings per diluted share stood at $2.02 for the quarter, 18.8% higher than $1.70 per diluted share in the first quarter of last year.

Ted Pick, Chief Executive Officer, commented: "In the first quarter of 2024 Morgan Stanley generated net revenues of $15 billion and earnings of $2.02 per share for a 20% return on tangible equity. As a result of strong net new asset growth, the Firm has reached $7 trillion of client assets across Wealth and Investment Management. Institutional Securities also saw strength across the markets and underwriting businesses. The Morgan Stanley Integrated Firm model is delivering durable results."