Law Firm Revenue Up, But So Are Expenses

Law firm revenues up 4.2 percent so far in 2018

But expenses are also rising and client payments are harder to nail down

Higher billing rates and stronger client demand pushed up law firm revenues by 4.2 percent in the first three months of 2018, a new report shows, raising prospects of a sustained recovery for an industry slow to fully get back on its feet after the financial crisis a decade ago.

Some of the growth numbers “were the strongest we’ve published in years,” the report by Citi Private Bank’s law firm group said. It noted the industry overall ...