Morgan Stanley reported Q2 earnings per share of $1.24, beating the consensus of $1.15. Revenues reached $13.46 billion, up 2% Y/Y, but down 7% sequentially. The bank's profit declined 13% to $2.18 billion due to a slowdown in deal-making and trading. Despite this, wealth management revenue rose 16% to $6.66 billion on higher interest income. The institutional securities business posted an 8% decline in revenue to $5.65 billion.