Lehman Brothers Holdings Inc. (LEH) Stock Rises on Earnings
Lehman Brothers Holdings Inc., the nation's fourth-largest investment bank, says robust stock trading and buyout business pushed second-quarter profit up 27 percent, in what may be a harbinger for other brokerage earnings due out this week.
For the three months ended May 31, profit after paying preferred dividends rose to $1.26 billion, or $2.21 per share, from $986 million, or $1.69 per share, a year earlier.
Gains from stock trading amid a record run on Wall Street, as well as fees charged to companies for advice on takeover deals, helped drive Lehman's business during the quarter. Revenue rose 25 percent to $5.51 billion -- half of that coming from overseas.
For the three months ended May 31, profit after paying preferred dividends rose to $1.26 billion, or $2.21 per share, from $986 million, or $1.69 per share, a year earlier.
Gains from stock trading amid a record run on Wall Street, as well as fees charged to companies for advice on takeover deals, helped drive Lehman's business during the quarter. Revenue rose 25 percent to $5.51 billion -- half of that coming from overseas.
posted by Stock Administrator @ 12:08 PM
0 Comments:
Post a Comment
<< Home