OTHER NEWS - Aug. 5, 1992
From Times Staff and Wire Reports
Bear Stearns Earnings Up 57%: Bear Stearns Cos. attributed the improvement to strong performances in trading and investment banking. The Wall Street firm said net income for its fourth fiscal quarter totaled $78.8 million, or 75 cents a share, up from $50.3 million, or 45 cents a share, a year earlier. Revenue rose 28% to $476 million from $373 million in the 1991 quarter. Bear Stearns Chairman Alan C. Greenberg said the firm posted a 47% increase in principal trading activity, with especially strong performances in bond trading. Investment banking revenue rose 16% in the period thanks to increased securities underwriting, Bear Stearns said.
