Morgan Stanley reported fourth-quarter financial results on Thursday that came in ahead of Wall Street expectations, largely supported by strong performance in its wealth management business.

According to figures released by the company, earnings per share reached $2.68, exceeding analysts’ expectations of $2.44. Total revenue for the quarter rose to $17.89 billion, slightly above the $17.77 billion forecast by market analysts.

Net income for the fourth quarter climbed to $4.40 billion, or $2.68 per share, compared with $3.71 billion, or $2.22 per share, during the same period last year. Revenue also showed solid growth, increasing from $16.22 billion a year earlier to $17.89 billion.

Following the announcement, Morgan Stanley’s stock surged by approximately 6% in Thursday’s trading session, reflecting investor confidence in the bank’s overall performance.

Wealth management remained the company’s strongest growth engine. The division generated $8.4 billion in net revenue during the quarter, up from $7.5 billion a year earlier. On a full-year basis, wealth management delivered a record $31.8 billion in net revenue, highlighting the firm’s continued success in attracting and retaining high-net-worth clients.

Client assets across the wealth and investment management businesses rose to $9.3 trillion, driven by more than $350 billion in net new assets. The steady inflow of new client funds underscored the strength of Morgan Stanley’s advisory platform and long-term investment strategy.

“Morgan Stanley delivered outstanding performance in 2025,” said Ted Pick, the company’s chairman and chief executive officer. He noted that the results reflect years of strategic investment that have helped build sustained growth and momentum across the firm’s integrated business model.

Investment banking also showed a notable rebound during the quarter. Net revenue in this segment surged 47% year over year to $2.41 billion, compared with $1.64 billion in the same period last year. The increase was primarily driven by higher advisory fees, as completed mergers and acquisitions activity picked up across major global markets.

In addition to operational performance, Morgan Stanley continued to return capital to shareholders. The firm repurchased $1.5 billion worth of its own shares during the fourth quarter and $4.6 billion over the entire year as part of its ongoing share buyback program.

Over the past 12 months, Morgan Stanley shares have risen more than 43%, significantly outperforming broader market benchmarks and many of its peers.

Elsewhere in the banking sector, results have been mixed but generally resilient. JPMorgan Chase reported stronger-than-expected fourth-quarter earnings, supported by robust equities and fixed-income trading revenue. Wells Fargo, however, fell short of revenue expectations, while Bank of America and Citigroup both posted results that exceeded market consensus.