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Evercore profit beats estimates

Thu Oct 25, 2012 6:21am EDT

Oct 25 (Reuters) - Evercore Partners Inc's third-quarter adjusted profit beat Wall Street estimates as compensation-related expenses fell at the boutique investment bank.

Adjusted net income fell to $17.3 million, or 40 cents per share, from $19.8 million, or 46 cents per share, a year earlier.

Revenue fell 6 percent to $153 million.

Analysts had expected a profit of 34 cents per share, on revenue of $139 million according to Thomson Reuters I/B/E/S.

Shares of the company closed at $25.64 on Wednesday on the New York Stock Exchange.
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