Lehman Brothers reported a decline in revenue of 31% to $3.5 billion and net income fall of 57% to $489 million. Earnings per share declined to 81 cents from $1.96 a year ago. Steady rise in asset management, equity offering fees and prime brokerage services helped the bank to overcome losses in fixed income related revenues. Lehman has been a subject of intense speculation in the last few days after a sudden demise of Bear Stearns as it lacked liquidity. |
More: