Evercore bullish as sees strong third quarter

INVESTMENT bank advisory firm Evercore posted their third quarter results last night, with revenues up 23 per cent on the comparable period during 2012.

The company announced net revenues of $188m (£116.23m), and profit of $14m, up 163 per cent over the 12-months to September. However, profit was down 15 per cent compared to the second quarter this year.

Over 2013 to date, profit is up to $36.4m, $0.96 per share, and an increase of 268 per cent on 2012’s first nine months.

The group also announced that they had hired Matthew McAskin in healthcare service and Fernando Soriano to specialise in Latin American countries.

Ralph Schlosstein, cheif executive officer of Evercore, commented: “We are pleased with our third quarter results, as we reported the third best quarter in our history for both revenues and earnings.”

He added: “Our results also demonstrate our commitment to delivering returns to our shareholders as our operating margins remained strong, our quarterly dividend was increased to $0.25 per share.”