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Moelis: 2Q Earnings Snapshot

NEW YORK (AP) _ Moelis & Co. (MC) on Tuesday reported second-quarter profit of $29.5 million.

The company, based in New York, said it had earnings of 54 cents per share. Earnings, adjusted for non-recurring costs, were 56 cents per share.

The investment bank posted revenue of $153.5 million in the period. Its revenue net of interest expense was $153.5 million, which beat Street forecasts.

Moelis shares have risen nearly 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.67, a fall of 41% 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 MC at https://www.zacks.com/ap/MC