Morgan Stanley delivered solid Q4 results, beating expectations across key metrics. Net revenue hit $17.89 billion, surpassing the $17.62B consensus and climbing 10% year-over-year. Earnings per share came in at $2.68, up 21% annually—a solid beat that reflects operational efficiency.

Credit quality remained strong with provisions for credit losses at just $18 million, well below the forecasted $81.1 million, signaling healthy loan portfolios amid economic uncertainty.

The Institutional Securities division was a standout performer, generating $7.93 billion in net revenue with a 9% YoY increase. Equities trading revenue reached $3.67 billion, exceeding estimates of $3.55 billion. This strength in trading suggests robust institutional demand and market liquidity heading into 2025.

Overall, the results underscore traditional finance's resilience and the importance of monitoring macro trends when evaluating broader market health—something that indirectly impacts digital asset dynamics as institutions continue navigating the evolving financial landscape.