NEW YORK (AP) — NEW YORK (AP) — Moelis & Co. (MC) on Wednesday reported third-quarter profit of $53.4 million.
The New York-based company said it had earnings of 67 cents per share. Earnings, adjusted for non-recurring costs, were 68 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The investment bank posted revenue of $356.9 million in the period. Its revenue net of interest expense was $376 million, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $371.5 million.
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