Morgan Stanley is gaining ground after a record-setting quarter (MS)

pulse

April 18, 2018 1:21 PM

The bank beat analyst earnings expectations on Wednesday.

The bank said it set new records for revenue and adjusted net income, as well as its equities and wealth management businesses.

Shares of Morgan Stanley popped more than 2.5% Wednesday morning after the bank posted a big earnings beat.

Here are the key numbers (emphasis added):

Revenue:
record.
Adjusted net income:
record
Equities:
record.
Fixed income:
Investment banking:
Wealth Management:
record

"It shouldn't surprise anyone as it's now become the norm: With Morgan Stanley, there is always something good under the bank's earnings tree," Axel Pierron, managing director at Opimas, a capital markets consultancy, said in an email. "Morgan Stanley’s earnings have again beaten market expectations."

Shares of the bank, which has $126.9 billion in assets, are up 5% since the beginning of 2018.

Most other Wall Street banks have also reported stellar first quarter results. You can find their individual earnings reports here: