Moelis: 4Q Earnings Snapshot

Associated Press
Updated 1 min read
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NEW YORK (AP) _ Moelis & Co. (MC) on Wednesday reported fourth-quarter profit of $126.5 million.

The New York-based company said it had earnings of $1.97 per share. Earnings, adjusted for non-recurring costs, were $1.99 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The investment bank posted revenue of $422 million in the period. Its revenue net of interest expense was $422 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $306.9 million.

For the year, the company reported profit of $178.8 million, or $2.95 per share. Revenue was reported as $943.3 million.

Moelis shares have climbed 17% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $54.80, a rise of 40% 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

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