Tuesday, June 12, 2007

Lehman Profit Increases 27 Percent, Led by Stock Trading, Higher M&A Fees

(Bloomberg) -- Lehman Brothers Holdings Inc., the
first of Wall Street's biggest firms to report second-quarter
earnings, said profit rose 27 percent as a rally in stocks fueled
equity trading and investment-banking revenue increased.

Net income climbed to $1.27 billion, or $2.21 a share, in
the three months ended May 31, from $1 billion, or $1.69, a year
earlier, the New York-based company said today in a statement.
Earnings exceeded the highest estimate of 16 analysts surveyed by
Bloomberg.


Read more at Bloomberg Stocks News

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