BUZZ-Evercore rises as Q4 results sail past Wall Street views

Reuters
02-05
BUZZ-<a href="https://laohu8.com/S/EVR">Evercore</a> rises as Q4 results sail past Wall Street views

** Investment bank Evercore's EVR.N shares rise ~2% to $288.50 premarket

** Co reports Q4 adjusted profit of $3.41 per share, comfortably surpassing Wall Street estimates of $2.85, according to data compiled by LSEG

** Dealmaking has seen an industry-wide resurgence with companies once again pursuing initial public offerings, mergers and acquisitions as well as equity and debt sales

** This follows nearly three years of dull activity that hit investment banks across the sector, due to elevated rates, capital markets volatility and anti-trust enforcement actions

** EVR's revenue was $980.5 mln in the quarter, beating analyst expectations of $885.1 mln

** Market environment has also been favorable for banks amid anticipation that President Donald Trump will usher in a business-friendly and deregulatory agenda

** EVR's advisory fees business logs a 29% jump in Q4, while underwriting fees increases 38%

** Stock up 2% YTD, as of previous close; It surged ~62% in 2024

(Reporting by Manya Saini in Bengaluru)

((Manya.Saini@thomsonreuters.com))

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