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Lehman Bros. Q1 Profits Plunge 57%

But beleaguered firm still beats forecasts; stock up pre-market

By Kevin Spak, Newser Staff

Posted Mar 18, 2008 8:18 AM CDT

(Newser) – Lehman Brothers, which yesterday lost 19% of its market value, today reported a 57% drop in net income for the first quarter and a 31% drop in net revenue. But those dire figures still beat analyst forecasts, sending the stock up 12% in premarket trading,... Read full story »

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Lehman Bros. Q1 Profits Plunge 57%

But beleaguered firm still beats forecasts; stock up pre-market

Bear Stearns • earnings reports • Lehman Brothers • fixed assets • subprime crisis

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Cramer: Never Seen Wall Street This Bad

Analyst sees no end in sight for layoffs and write-downs

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Investors fear that banks, securities firms still in trouble

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