Credit: PaulPaladin/Adobe Stock Pennsylvania Firms on Track to Hit National Averages in Revenue, See Success in Collections
"Gross revenue was up 4.5%—even though rates did contribute to that, overall demand was worse," Wells Fargo's Owen Burman said of the Q3 results of six Philadelphia-based firms surveyed by the bank. "In order to have revenue be around the same point, they've basically collected better at this point in the year than other firms have."
November 20, 2023 at 05:19 PM
5 minute read
Pennsylvania's legal market, in which Philadelphia-based firms play an outsized role, has largely kept pace with the national trendline of modest revenue growth through the first nine months of 2023, according to two recent surveys from Citi Bank and Wells Fargo, with firms in the region having greater success on collections thus far this year compared to national averages.
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