An early look at how some of the nation’s largest law firms fared financially last year finds that on average they enjoyed a 5 percent increase in gross revenuesthe biggest year-over-year jump since 2008, according to a survey by Wells Fargo Private Bank’s Legal Specialty Group.
Based on results from just over 100 firmsmore than 50 in the Am Law 100, approximately 40 in the Second Hundred, and none of them identified by nameWells determined that in addition to the revenue growth, net income among those firms rose an average of 6 percent between 2011 and 2012 while profits per equity partner increased by 5 percent on average.
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