Perella Weinberg Revenue Surges as Transactions, Fees Increase

Perella Weinberg Partners said second-quarter revenue more than doubled as the investment bank’s advisory business completed more transactions and fees per client increased.

Revenue jumped to a record $255.5 million, compared with the $157.7 million analysts estimated in a Bloomberg survey. Net income swung to a profit of $9 million from a loss of $22.1 million a year earlier. Adjusted earnings were $61.7 million, topping the $22.1 million estimate.

“PWP delivered record results in the second quarter of 2021 as demand for advisory services remains elevated across our business,” Chief Executive Officer Peter Weinberg said in a statement Thursday. ...