Merrill Lynch earnings surge |
Financial Times - Jul 17, 2007 |
Merrill Lynch said on Tuesday second-quarter net earnings surged 31 percent on strong investment banking activity as well as trading credit and interest rate products.
Merrill Lynch’s subprime mortgage-related activities did not sap overall results, a concern of investors heading into the quarter. The company easily beat earnings and revenue estimates.
The world’s largest brokerage said net earnings were $2.1 billion, or $2.24 a diluted share, compared to $1.6 billion, or $1.63, in the year-earlier period.
Analysts, on average, looked for Merrill Lynch to earn $2.02 a share, according to Reuters Estimates.
Read Full Article from Financial Times
- Posted: 2007-07-17 10:10:25
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