NEW YORK (AP) — NEW YORK (AP) — Moelis & Co. (MC) on Wednesday reported fourth-quarter net income of $20.1 million.
The company, based in New York, said it had earnings of 28 cents per share. Earnings, adjusted for non-recurring costs, were 33 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The investment bank posted revenue of $207.2 million in the period. Its revenue net of interest expense was $207.2 million, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $214.1 million.
For the year, the company reported profit of $150.3 million, or $2.14 per share. Revenue was reported as $985.3 million.
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