Morgan Stanley (NYSE:MS) shares were trading around 2% higher today afternoon following the company’s reported Q2 results, with EPS coming in at $2.02, or at $2.06 on an adjusted basis excluding E*TRADE/ Eaton Vance integration-related impacts. The Street expected $1.71 EPS.

Analysts at Oppenheimer released a report on the company following the results, stating that Investment banking results didn't stray too far from their preview estimates. However, the analysts mentioned that equity and FICC trading came in well above their expectations, and the now-bolstered asset management platform generally held up far better than they expected given Q1/22 market dislocation.

Overall, these results lead to the company generating an adjusted 20% ROTCE, in spite of the market turmoil, just one quarter following the strategic update outlining over 20% long-term goal.