Cowen declares Q4/FY 2017 financial results.
BANKING AND CREDIT NEWS-February 22, 2018-Cowen declares Q4/FY 2017 financial results
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Cowen Inc. (NASDAQ: COWN) has announced its operating results for the fourth quarter and full year ended December 31, 2017, the company said.
Investment banking revenue of USD 223.6 million on a GAAP and economic income basis in 2017, increased 68% year over year and was led by strong performance in equity financings. In addition, we made important strides towards improving revenue diversification in both product and sector.
Advisory revenue of USD 41.8 million represented a 56% year over year increase.
Annual brokerage revenue of USD 293.6 million and USD 312.8 million on a GAAP and economic income basis, respectively, represented a three-fold increase since 2012.
Cowen Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides investment management, investment banking, research, sales and trading, prime brokerage, global clearing and commission management through its two business segments. Founded in 1918, the firm is headquartered in New York and has offices worldwide.
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