Bear Stearns Reports Third Quarter 2003 Earnings of $2.30 Per Share, Up 87.0% from Third Quarter 2002.
Business Wire › September 18, 2003
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Bear Stearns Reports Third Quarter 2003 Earnings of $2.30 Per Share, Up 87.0% from Third Quarter 2002.
Business Editors
NEW YORK--(BUSINESS WIRE)--Sept. 18, 2003 Net Income up 90.6% to $313.4 Million, Nearly Doubling from $164.4 Million in Third Quarter 2002 Pre-Tax Profit Margin Hits 32.5% Quarterly ROE 21.3% : Trailing 12-Month ROE 19.0% The Bear Stearns Companies Inc. (NYSE:BSC) reported today earnings per share (diluted) of $2.30 for the third quarter ended August 31, 2003, up 87.0% from $1.23 per share (diluted) for the quarter ended August 31, 2002. Net income for the third quarter of 2003 was $313.4 million, up 90.6% from $164.4 million for the third quarter of 2002. Net revenues were $1.49 billion for the third quarter, up 28.6% from $1.15 billion for the third quarter of 2002. Annualized after-tax return on average common stockholders' equity for the current quarter was 21.3% and for the trailing 12-month period ended August 31, 2003 was 19.0%. James E. Cayne, chairman and chief executive officer of Bear Stearns, commented, "Our firm takes great pride in its ability to prosper through the recent business cycles and our third quarter earnings illustrate our ability to do just that. A significant increase in revenues, ...See the full content of this document
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