Lehman Brothers Holdings Inc. reported a second straight year of record income and revenues Tuesday, with earnings up 38 percent from a year ago on strong investment banking and transaction fees.
The record year was capped off by a robust fourth quarter, with a 34 percent jump in investment banking revenues helping the company exceed Wall Street’s profit forecasts. For the fourth quarter, Lehman earned $823 million ($2.76 per share) on revenues of $3.69 billion. Analysts had forecast quarterly earnings of $2.65 per diluted share on revenues of $3.66 billion.
