US litigation firm Quinn Emanuel Urquhart Oliver & Hedges has reported one of the best sets of financial results for the 2008 financial year, with revenue up 15 per cent on the previous 12-month period.
Revenue rose from $384.5m to $441.8m, while profit increased by 12.6 per cent from $248.2m to $279.5m.
The firm’s equity partners will pocket an average profit share of $3.3m, a 10.9 per cent increase on the $3m they received for the 2007 financial year.
Last week The Lawyer reported on fellow US litigation powerhouse Paul Weiss Rifkind Wharton & Garrison announcing a 6.3 per cent revenue hike to $692m while its average profit per equity partner (PEP) figure grew by 2.3 per cent to $2.7m.
Earlier this week Greenberg Traurig announced a revenue increase of 0.25 per cent during 2008, up to $1.203bn from $1.2bn. At the same time the firm’s PEP grew to $1.31m from $1.3m (Reed Smith a 10 per cent revenue hike was coupled with a 6.5 per cent drop in PEP ( 23 January).