Evercore Q3 Earnings Fall, But Beat Estimates

(RTTNews) - Evercore Inc. (EVR), an investment banking advisory, on Wednesday reported lower earnings on decreased revenues for the third quarter. However, earnings beat analysts' estimates. Quarterly net income decreased to $52.1 million or $1.30 per share from $82.4 million or $2.03 per share for the same period last year. Excluding items, earnings fell to $55.5 million or $1.30 per share from $95.2 million or $2.20 per share of the previous year.

On average, six analysts polled by Thomson Reuters expected earnings of $1.19 per share for the year. Analysts' estimates typically exclude special items.

Net revenues, declined to $570.2 million from $576.9 million in the prior year.

Adjusted net revenues were $576.1 million compared to $583.2 million over a year ago. The Street estimate for revenue was $550.51 million.

Additionally, the company declared a quarterly dividend of $0.76 per share payable on December 8, to shareholders of record on November 24.

On Tuesday, Evercore shares closed at $131 up 0.08% on the New York Stock Exchange.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.