Moelis & Company's (MC) Q1 Earnings Top as Revenues Rise Y/Y

Moelis & Company’s (MC) first-quarter 2024 adjusted earnings per share of 22 cents handily surpassed the Zacks Consensus Estimate of 11 cents. The bottom line compared favorably with 5 cents earned in the prior-year quarter.Results benefited from a rise in revenues and other income. Also, the company had a solid liquidity position in the quarter. However, an increase in expenses acted as an undermining factor.Net income (GAAP basis) was $17.5 million, up substantially from $3.6 million in the prior-year qua ...