NEW YORK (AP) 鈥� NEW YORK (AP) 鈥� Moelis & Co. (MC) on Wednesday reported first-quarter earnings of $38.4 million.
The company, based in New York, said it had earnings of 48 cents per share. Earnings, adjusted for non-recurring costs, were 50 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The investment bank posted revenue of $319.8 million in the period. Its revenue net of interest expense was $319.8 million, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $336.1 million.
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