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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Investment banking $ 1,735 $ 1,155 $ 3,324 $ 2,485
Trading 4,131 3,802 8,983 8,279
Investments 157 95 294 240
Commissions and fees 1,183 1,090 2,410 2,329
Asset management 5,424 4,817 10,693 9,545
Other 322 488 588 740
Total non-interest revenues 12,952 11,447 26,292 23,618
Interest income [1] 13,529 10,913 26,459 20,893
Interest expense [1] 11,462 8,903 22,596 16,537
Net interest 2,067 2,010 3,863 4,356
Net revenues 15,019 13,457 30,155 27,974
Provision for credit losses 76 161 70 395
Non-interest expenses        
Compensation and benefits 6,460 6,262 13,156 12,672
Brokerage, clearing and exchange fees 995 875 1,916 1,756
Information processing and communications 1,011 926 1,987 1,841
Professional services 753 767 1,392 1,477
Occupancy and equipment 464 471 905 911
Marketing and business development 245 236 462 483
Other 941 947 1,798 1,867
Total non-interest expenses 10,869 10,484 21,616 21,007
Income before provision for income taxes 4,074 2,812 8,469 6,572
Provision for income taxes 957 591 1,890 1,318
Net income 3,117 2,221 6,579 5,254
Net income applicable to noncontrolling interests 41 39 91 92
Net income applicable to Morgan Stanley 3,076 2,182 6,488 5,162
Preferred stock dividends 134 133 280 277
Earnings applicable to Morgan Stanley common shareholders $ 2,942 $ 2,049 $ 6,208 $ 4,885
Earnings per common share        
Basic (USD per share) $ 1.85 $ 1.25 $ 3.89 $ 2.98
Diluted (USD per share) $ 1.82 $ 1.24 $ 3.85 $ 2.95
Average common shares outstanding        
Basic (shares) 1,594 1,635 1,597 1,640
Diluted (shares) 1,611 1,651 1,614 1,657
[1] Prior period amounts have been adjusted to conform with the current period presentation. See Note 2 for additional information.