Lehman profits


Lehman Brothers has posted record second-quarter revenues of $2.3 billion, largely off the back of its successful fixed-income business. Despite Sars and the Iraq war, Lehman’s fixed-income division achieved an all-time record level of quarterly revenues, at nearly $1.2 billion – almost half of total revenues. Fixed-income revenues are up 33% from Q1, which was itself a record quarter.

In a June 19 conference call, Lehman CFO David Goldfarb attributed much of the bank’s success to

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