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Moelis: 4Q Earnings Snapshot

February 5, 2020 GMT

NEW YORK (AP) _ Moelis & Co. (MC) on Wednesday reported fourth-quarter net income of $21.5 million.

The New York-based company said it had earnings of 38 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The investment bank posted revenue of $223.5 million in the period. Its revenue net of interest expense was $223.5 million, which also topped Street forecasts.

For the year, the company reported profit of $105.1 million, or $1.89 per share. Revenue was reported as $746.5 million.

Moelis shares have increased 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $38.13, a fall of 14% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MC at https://www.zacks.com/ap/MC