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LOS ANGELES (AP) — LOS ANGELES (AP) — Houlihan Lokey Inc. (HLI) on Wednesday reported fiscal fourth-quarter profit of $121.9 million.
On a per-share basis, the Los Angeles-based company said it had net income of $1.76. Earnings, adjusted for non-recurring costs, were $1.96 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.61 per share.
The investment banking company posted revenue of $666.4 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $626.2 million.
For the year, the company reported profit of $399.7 million, or $5.82 per share. Revenue was reported as $2.39 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLI at https://www.zacks.com/ap/HLI