Reed Smith Grows Revenue and Profits, Citing Strong Demand
The firm saw revenue grow 5 percent, while profits per equity partner increased by 7 percent.
February 20, 2019 at 08:00 AM
6 minute read
The original version of this story was published on The Legal Intelligencer
Reed Smith saw revenue and profit growth accelerate slightly in a strong 2018 market, as it invested in diversifying its business model.
The international firm, which was founded in Pittsburgh, saw revenue increase by 5 percent, to $1.175 billion, in 2018. Revenue per lawyer increased roughly in proportion, growing 5.4 percent to $761,000.
Global managing partner Alexander Thomas said Reed Smith benefited from strong demand in 2018. “We had a very high level of sophisticated work coming into the law firm, and our lawyers were working very hard,” he said.
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