Morgan Stanley reported net revenues of $17.7 billion and net income applicable to Morgan Stanley of $4.3 billion for the quarter ended March 31, 2025. Net revenues increased 17% from $15.1 billion in the prior year quarter, and net income increased 26% from $3.4 billion.

10-QQuarterly reportFiled May 5, 2025Period of report Mar 31, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

Morgan Stanley reported net revenues of $17.7 billion and net income applicable to Morgan Stanley of $4.3 billion for the quarter ended March 31, 2025. Net revenues increased 17% from $15.1 billion in the prior year quarter, and net income increased 26% from $3.4 billion.
The company reported Institutional Securities net revenues of $8,983 million, an increase of 28% from the prior year quarter, Wealth Management net revenues of $7,327 million, an increase of 6%, and Investment Management net revenues of $1,602 million, an increase of 16%.
Morgan Stanley recognized severance costs of $144 million included in Compensation and benefits expenses in the current quarter related to a reduction in force in March, which the company said impacted approximately 2% of its global workforce at that time.
The company said the Provision for credit losses on loans and lending commitments was $135 million, compared with a net release of $6 million in the prior year quarter. It cited portfolio growth in secured lending facilities and corporate loans, provisions for certain specific loans including residential real estate loans related to the California wildfires, and deterioration in the macroeconomic outlook as factors.

Key figures

Quarter ended March 31, 2025

Revenue: $17.7B
Net income: $4.3B
EPS: $2.60
Operating cash flow: −$24.0B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 2025 Net Revenues and Net Income

Morgan Stanley reported net revenues of $17.7 billion and net income applicable to Morgan Stanley of $4.3 billion for the quarter ended March 31, 2025. Net revenues increased 17% from $15.1 billion in the prior year quarter, and net income increased 26% from $3.4 billion.

Source · Based on the MD&A text of the filing

Business Segment Net Revenues

The company reported Institutional Securities net revenues of $8,983 million, an increase of 28% from the prior year quarter, Wealth Management net revenues of $7,327 million, an increase of 6%, and Investment Management net revenues of $1,602 million, an increase of 16%.

Source · Based on the MD&A text of the filing

March Severance Costs Related to Reduction in Force

Morgan Stanley recognized severance costs of $144 million included in Compensation and benefits expenses in the current quarter related to a reduction in force in March, which the company said impacted approximately 2% of its global workforce at that time.

Source · Based on the MD&A text of the filing

Provision for Credit Losses on Loans and Lending Commitments of $135 million

The company said the Provision for credit losses on loans and lending commitments was $135 million, compared with a net release of $6 million in the prior year quarter. It cited portfolio growth in secured lending facilities and corporate loans, provisions for certain specific loans including residential real estate loans related to the California wildfires, and deterioration in the macroeconomic outlook as factors.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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