Lehman Brothers Holdings First Quarter Earnings Call
Author: Maclintosh Kuhlengisa
123jump.com
Last Update: 5:18 PM EDT March 21 2008
The financial group reported a 57% decrease in net income to $489 million or 81 cents a share from $1.15 billion or $1.96 a share in the prior year on weaker revenue and dislocations in the credit markets. It maintained strong liquidity position, with the Holding Company having a liquidity pool of $34 billion and unencumbered assets of $64 billion, with an additional $99 billion at the regulated entities. Moody’s reaffirmed the A1 credit rating on the strength of the capital base and liquidity.
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