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Strategies & Market Trends : Galapagos Islands
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To: AugustWest who wrote (2463)9/24/2002 8:17:12 AM
From: AugustWest  Read Replies (1) of 57110
 
Lehman profit off on weak investment banking
Tuesday September 24, 8:12 am ET

NEW YORK, Sept 24 (Reuters) - Lehman Brothers Holdings Inc. (NYSE:LEH - News), a top U.S. investment bank, on Tuesday said its quarterly profit fell sharply as underwriting revenue fell off amid a weak environment for stocks and bonds.



Lehman reported net income of $194 million, or 70 cents a share, for its fiscal third quarter ended in August. That compared with earnings of $309 million, or $1.14 a share, a year ago.

Analysts on average expected the firm to earn 85 cents a share, within a range of 70 to 95 cents, according to market research firm Thomson First Call.
biz.yahoo.com

additionally, yahoo! shows the revenues estimates were for $1.5B while actual revenues reported were $1.35B

15 brokers have coverage on them. It breaks down like this:

Strong Buy    5
Buy           5
hold          5
Sell          0
Strong Sell   0

biz.yahoo.com
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