Evercore beats Q2 revenue, adjusted EPS estimates
EVR•Drivers and outlook
The company said higher advisory and underwriting fees were driven by more large transactions and increased participation in deals.
It said Q2 revenues were record highs in North America Strategic Advisory, Private Funds Group, Equities, Underwriting, and Wealth Management businesses.
Evercore also cited higher compensation and non-compensation expenses, including incentive accruals, salaries, travel, professional fees, and technology costs.
The company did not provide specific guidance for the current quarter or full year.
Q2 results beat estimates
Investment banking advisory firm Evercore reported that its Q2 net revenue rose 19% year over year, beating analyst expectations.
Adjusted EPS for Q2 also beat consensus estimates.
The company declared a quarterly dividend of $0.89 per share.
