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Moelis: 2Q Earnings Snapshot

NEW YORK (AP) _ Moelis & Co. (MC) on Monday reported second-quarter earnings of $35.7 million.

The New York-based company said it had earnings of 72 cents per share. Earnings, adjusted for non-recurring costs, were 78 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The investment bank posted revenue of $220.4 million in the period. Its revenue net of interest expense was $220.4 million, also exceeding Street forecasts.

Moelis shares have increased 29 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $62.60, an increase of 55 percent in the last 12 months.


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