NEW YORK (AP) — NEW YORK (AP) — Moelis & Co. (MC) on Wednesday reported fourth-quarter earnings of $87.9 million.
The company, based in New York, said it had earnings of $1.10 per share. Earnings, adjusted for non-recurring costs, were $1.13 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The investment bank posted revenue of $487.9 million in the period. Its revenue net of interest expense was $487.9 million, also topping Street forecasts. Four analysts surveyed by Zacks expected $428.6 million.
For the year, the company reported profit of $233 million, or $2.94 per share. Revenue was reported as $1.52 billion.
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