Evercore Inc. posted a lower profit for the most recent quarter than the one reported for the same period last year, although it exceeded Wall Street's predictions.
The firm announced earnings of $82.7 million or $2.03 per share, a drop from the $140.4 million, or $3.44 per share, reported during the previous year's final quarter.
In terms of adjusted earnings - which do not include specific items - Evercore Inc. posted $87.8 million or $2.02 per share for the quarter. On average, analysts had anticipated that the company would record earnings of $1.67 per share, according to data collected by Thomson Reuters. This typically excludes specific items.
In contrast, the company's quarterly revenue dipped by 5.7%, declining from $831.3 million the previous year to $784.2 million.
A glance at the latest GAAP earnings for Evercore Inc. revealed the following:
- The fourth-quarter earnings were $82.7 million, down from $140.4 million the previous year.
- The earnings per share (EPS) for the fourth quarter were $2.03, a decrease from $3.44 in the same quarter the previous year.
- Analyst estimates were $1.67.
- Revenue for the fourth quarter was $784.2 million, down from $831.3 million in the same quarter last year.
