Bear Stearns’ Third-Quarter Profit Jumps

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Investment bank Bear Stearns Cos. on Thursday said third-quarter profit swelled 34 percent to beat analyst targets, helped by strength across most of its businesses.


Net income rose to $378.3 million ($2.69 per diluted share), compared with $283.3 million ($2.09) a year earlier. On average, analysts estimated Bear Stearns’ profit at $2.38 per share. Revenue totaled $1.8 billion, up 18 percent from $1.5 billion a year earlier and well ahead of analysts’ target of $1.7 billion.


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