Lehman Brothers quarterly earnings rise 27 percent

Lehman Brothers Holdings Inc., said on Tuesday that quarterly profit rose 27 percent, beating expectations, on surging revenue from bond underwriting and stock trading.

The investment bank's shares rose more than 1.5 percent in trading before the market opened.

Lehman's stock trading revenue jumped 94 percent, helped in part by higher customer activity and profitable trades with the company's own funds. Bond underwriting revenue rose more than 85 percent.

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- Posted: 2007-06-12 10:15:37

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