* Bear Stearns Cos. reported that its...
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* Bear Stearns Cos. reported that its profit nearly tripled in the recent quarter, strengthened by bull markets in stocks and bonds and a flurry of corporate mergers and acquisitions.
The Wall Street brokerage firm said it earned $89.5 million in its fiscal fourth quarter ended June 30, compared to $32.4 million in the year-ago quarter.
The recent profit, which came to 65 cents per share, was at the high end of expectations, according to an analyst survey by Zachs Investment Research. Earnings rose from 20 cents per share in the year-ago period.
Revenue, after interest expenses, rose 46%, to $626.5 million from $428.5 million.
Profit in the fiscal year fell 38% to $240.6 million, or $1.70 per share, from $387 million, or $2.75 per share, in the 1994 fiscal year.
Revenue, after interest expenses, fell to $2.08 billion from $2.42 billion.
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