Lehman Brothers Holdings Inc. said Thursday its fourth-quarter profit fell for the third straight quarter, slipping 11% from a year ago on net write-downs of $830 million on fixed-income trading assets, as Wall Street continues to struggle against tight credit markets.
Although the results topped consensus forecasts, it is the first time the firm's earnings have fallen for three straight quarters since 2002.
The company (LEH:Lehman Brothers Holdings Inc
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10:09am 12/13/2007

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LEH 60.77, -1.05, -1.7%) reported earnings of $886 million, or $1.54 a share, compared with $1 billion, or $1.72 a share a year ago.
Analysts polled by Thomson First call had expected the firm to earn $1.47 a share.
Lehman Brothers said net revenue for the quarter ended Nov. 30 dropped to $4.39 billion from $4.53 billion a year earlier.

 

Submitted: Dec 13, 2007    Views: 190    Comments: 0    Likes: 1   


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