Morgan Stanley (NYSE:MS) shares rose more than 2% intra-day today after the company reported strong second-quarter results, surpassing analyst expectations with an EPS of $1.82, beating the estimated $1.65.
The company also saw a significant revenue increase, reporting $15 billion compared to the consensus estimate of $14.32 billion. This is a notable improvement from the $13.5 billion reported in the same quarter last year.
CEO Ted Pick attributed the strong performance to an improving capital markets environment, leading to a first-half 2024 revenue of $30.2 billion and an EPS of $3.85.
Morgan Stanley’s strategy has shown success, with total client assets rising to $7.2 trillion. Pick also announced a quarterly common stock dividend increase to $0.925 per share, highlighting the company’s financial health and commitment to shareholders.