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Houlihan Lokey: Fiscal 2Q Earnings Snapshot

·1 min read

LOS ANGELES (AP) _ Houlihan Lokey Inc. (HLI) on Thursday reported fiscal second-quarter profit of $48.8 million.

The Los Angeles-based company said it had profit of 70 cents per share. Earnings, adjusted for non-recurring costs, were 75 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The investment banking company posted revenue of $275.7 million in the period.

Houlihan Lokey shares have climbed 29% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $63.08, an increase of 34% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLI at https://www.zacks.com/ap/HLI