By AnnaMaria Andriotis
Morgan Stanley said its profit jumped in the first quarter, fueled by a surge in trading revenue.
The bank's profit increased 26% to $4.32 billion in the first three months of the year. That amounted to $2.60 per share, easily surpassing the $2.18 per share analysts expected.
Its revenue increased 17% to a record $17.74 billion. Analysts had expected $16.54 billion. Trading revenue surged, led by a 45% increase in equities.
Wall Street has seen a surge in trading activity since President Trump's tariffs were announced last week. Executives say that increase, if it persists, is likely to keep boosting trading revenues in the second quarter and could offset a quiet period in investment banking. The stock market plunge and uncertainty about the global economy has contributed to a number of companies putting mergers and initial public offerings on hold.
In the first quarter, Morgan Stanley's investment banking revenue increased 8%.
Write to AnnaMaria Andriotis at annamaria.andriotis@wsj.com
(END) Dow Jones Newswires
April 11, 2025 07:51 ET (11:51 GMT)
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