.July 16, 2024 01:06:00 PM

Morgan Stanley (NYSE:MS) shares surged over 2% today following the release of strong second-quarter results. The company reported an EPS of $1.82, surpassing analyst expectations of $1.65. Revenue also saw a significant increase, reaching $15 billion compared to the estimated $14.32 billion and up from $13.5 billion in the same quarter last year.

CEO Ted Pick credited the strong performance to an improving capital markets environment, resulting in a first-half 2024 revenue of $30.2 billion and an EPS of $3.85. The company’s strategy has proven successful, with total client assets climbing to $7.2 trillion.

In a move to further demonstrate financial health and commitment to shareholders, Morgan Stanley announced a quarterly common stock dividend increase to $0.925 per share.