U.S. Capitol building in Washington, D.C. Photo: Diego M. Radzinschi/ALM DC Law Firms 'Underperformed' in First Half of 2024
Among D.C.-based firms, revenue was up 5.6% in the first six months of 2024, falling below the 11.4% revenue growth the industry saw overall.
August 28, 2024 at 05:38 PM
3 minute read
Law Firm Profitability
What You Need to Know
- D.C.-based firms are largely not benefiting from the transactional market rebounds compared to the industry overall.
- Revenue for D.C. firms (up 5.6%) in the first six months fell way below the industry average (up 11.4%).
- Demand growth for D.C. firms was also below the industry average staying nearly flat at 0.8%.
Despite evidence that a historically strong year is in store for the legal industry, law firms headquartered in Washington, D.C., "underperformed" in the first half of 2024, as D.C. firms largely did not enjoy the benefits of the transactional market rebounding, while also losing market share to competitor firms.
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