In the first quarter of 2025, Morgan Stanley outperformed JPMorgan Chase in revenue growth, signaling a stronger start to the year for the investment banking giant.
Revenue Growth Comparison
Morgan Stanley reported total revenue of $17.7 billion, up 17% from the prior year’s $15.1 billion.
JPMorgan Chase posted total revenue of $45.3 billion, reflecting a 9% year-over-year increase.
Despite JPMorgan’s higher absolute revenue, Morgan Stanley delivered nearly double the revenue growth rate.
Earnings & Profitability
Morgan Stanley earned $4.3 billion in net income, or $2.60 per share, up from $3.4 billion ($2.02 per share) a year earlier.
JPMorgan Chase reported $14.6 billion in net income, or $5.07 per share, compared to $12.6 billion ($4.10 per share) in Q1 2024.
Both banks beat Wall Street expectations, but Morgan Stanley showed stronger growth momentum relative to its size.
Equities Trading: Morgan Stanley Leads
Morgan Stanley saw a 45% rise in equities trading revenue, totaling $4.2 billion, driven by strong activity in Asia and higher volatility.
JPMorgan grew its equities trading revenue by 48%, reaching $3.8 billion, citing macroeconomic uncertainty as a catalyst.
Morgan Stanley outpaced JPMorgan in total trading revenue and benefited from a more global footprint in this segment.
Wealth Management & Investment Banking Strength
Morgan Stanley’s wealth management revenue grew to $7.3 billion (from $6.9B), supported by client asset growth and market gains.
Investment banking at Morgan Stanley rose 8%, boosted by its role in blockbuster deals such as Walgreens’ $24B take-private and CoreWeave’s $1.5B IPO.
JPMorgan’s investment banking also performed well but lacked detailed figures in the public earnings release.
Strategic Positioning & Market Outlook
Morgan Stanley’s CEO Ted Pick credited “broad-based strength” and emphasized growth in both client activity and strategic advisory. The firm’s balanced model — spanning trading, wealth, and banking — gave it a flexible edge in a volatile market.
Meanwhile, JPMorgan CEO Jamie Dimon warned of “considerable turbulence,” pointing to risks from geopolitical tensions and global economic instability.
Conclusion
While JPMorgan remains a financial powerhouse in scale, Morgan Stanley’s stronger revenue growth, trading performance, and wealth management gains suggest it had the better Q1 showing in 2025. The numbers point to a leaner, more agile bank seizing opportunities amid economic uncertainty.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/morgan-stanley-vs-jpmorgan-earning-reports-comparison/