Catenaa, Wednesday, July 16, 2025 – US top investment banks, Morgan Stanley and Goldman Sachs, reported net revenues over 11% in the second quarter as the volatile equity market drove trading revenue to record highs.
Investors flocked to markets to make trades and manage tariff-related risks as US trade policies shifted. The turmoil boosted trading desks across Wall Street; Goldman’s net revenue increased by 14.5% to $14.5 billion, and Morgan Stanley’s by 11.8% to $16.7 billion.
Goldman’s equities trading revenue rose 36% to $4.3 billion, while fixed income, currencies and commodities hauled in $3.47 billion, 9% higher than a year ago.
Its investment banking fees stood at $2.19 billion in the quarter, rising 26% from a year earlier. Fees from advisory were significantly higher, while debt underwriting dipped.
Overall profit was $3.7 billion, or $10.91 per share, for the three months ended June 30, compared with $3.04 billion, or $8.62 per share, a year earlier.
Its shares have climbed 23% so far this year, making them the fifth-best performer in the S&P 500 financial index.
Morgan Stanley’s equity net revenues up 23% to $3.7 billion, while fixed income net revenues up 9% to $2.1 billion, with robust results in prime brokerage.
Net income applicable to Morgan Stanley was $3.5 billion, or $2.13 per diluted share, compared with $3.1 billion, or $1.82 per diluted share,1 for the same period a year ago.
The firm repurchased $1 billion of its outstanding common stock during the quarter as part of its Share Repurchase Program.
The Board of Directors declared a $1.00 quarterly dividend per share, an increase of 7.5 cents, payable on August 15, 2025, to common shareholders of record on July 31, 2025.
Morgan Stanley CEO Ted Pick has maintained a positive view for the year, telling investors in June that deal discussions were persistent and ramping up.
