Lehman Bros. Q3 earns decline but top expectations
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Lehman Bros. Q3 earns decline but top expectations
Lehman Bros. Q3 earns decline but top expectations (LEH)
By Tomi Kilgore
NEW YORK (CBS.MW) -- Lehman Brothers (LEH) reported fiscal third-quarter earnings of $505 million, or $1.71 a share, vs. $480 million, or $1.81 a share in the same period a year ago, and above the average analyst estimate compiled by Thomson First Call of $1.55 a share.
Revenue rose 12 percent to $2.62 billion, topping analyst forecasts of $2.54 billion.
Capital markets revenue increased 2 percent, as a 16 percent rise in fixed income revenue helped offset a 33 percent decline in equities. The brokerage company's stock closed Monday down 36 cents at $76.02
By Tomi Kilgore
NEW YORK (CBS.MW) -- Lehman Brothers (LEH) reported fiscal third-quarter earnings of $505 million, or $1.71 a share, vs. $480 million, or $1.81 a share in the same period a year ago, and above the average analyst estimate compiled by Thomson First Call of $1.55 a share.
Revenue rose 12 percent to $2.62 billion, topping analyst forecasts of $2.54 billion.
Capital markets revenue increased 2 percent, as a 16 percent rise in fixed income revenue helped offset a 33 percent decline in equities. The brokerage company's stock closed Monday down 36 cents at $76.02
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