The pair continued a strong run of earnings for the US banks, following record results from Goldman Sachs on Tuesday.
Lehman fourth quarter figures:
- Final quarter net income $1bn, up 22 percent;
- 2006 net income up 23 per cent at $4bn;
- EPS $1.38 for the quarter, $5.43 for the year;
Performance, which was in line with analysts’ expectations, was driven in particular by a 28 per cent surge in trading revenues to $3bn. Investment banking revenues were up 5 per cent at $858m.
Bear Stearns fourth quarter figures
- Fourth quarter earnings $563m, or $4 a share, up 23 per cent;;
- For the year, earnings of $2.1bn, up 40 per cent;
- Net revenues up 28 per cent at $2.4bn;
Fixed income revenues up 25 per cent to $1.1bn; 58 per cent rise in investment banking revenues to $364m.