Evercore Partners Inc's adjusted profit fell in the third quarter as the boutique investment bank struggled to drive revenue in a difficult mergers and acquisitions market.Adjusted net income fell to $17.3 million, or 40 cents per share, from $19.8 million, or 46 cents per share, a year earlier. Net revenue fell 6 percent to $153 million.Analysts had expected a profit of 34 cents per share, on revenue of $139 million, excluding items, according to Thomson Reuters I/B/E/S.Evercore, founded as a merger and asset management firm in 1996 by former U.S. deputy treasury secretary Roger Altman, said its investment banking segment revenue fell 7 percent to $128.2 million.
Evercore Partners Inc. is an independent investment banking advisory firm. Shares of EVR traded higher by 7.29% or $1.87/share to $27.51. In the past year, the shares have traded as low as $20.57 and as high as $30.09. On average, 228466 shares of EVR exchange hands on a given day and today's volume is recorded at 220755.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.77% or $0.215/share to $28.18. In the past year, the shares have traded as low as $25.28 and as high as $30.66. On average, 901134 shares of TRI exchange hands on a given day and today's volume is recorded at 224445.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.83% or $0.23/share to $28.00. In the past year, the shares have traded as low as $26.10 and as high as $30.40. On average, 861490 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 1861108.
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