Credit: IRStone/Adobe Stock Impressive Gains at Quinn Emanuel, Hogan Lovells, Milbank Suggest a Healthy 2023 for Am Law 100
"It's interesting to me that those in the top 50 did even better than those in the next 50," said Marci Taylor, a law firm strategy consultant and founder of Mantra Partner, in regard to early reports.
February 13, 2024 at 12:01 AM
6 minute read
Law Firm Profitability
The original version of this story was published on The American Lawyer
What You Need to Know
- Early results on Am Law 100 law firm financials suggest 2023 was a better year for Big Law than 2022.
- Hogan Lovells and Milbank saw 10.3% and 17.8% increases to their revenues, translating into about 20.6%, and 18.6% increases in PEP, respectively.
- However, many firms will likely not report the same level of success, consultants say.
Early 2023 financial reports from Am Law 100 firms reveal impressive gains that reversed past setbacks, paced by preliminary indications of roughly a 30% jump in revenue at Quinn Emanuel Urquhart & Sullivan and double-digit increases to the top line at Hogan Lovells and Milbank.
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