Lehman Brothers Holdings Inc on Wednesday said third-quarter earnings rose a better-than-expected 4 percent, as trading and investment management revenue jumped. The investment bank's shares moved higher in early trading, a day after Lehman rival Goldman Sachs reported stronger-than-expected earnings and brokerage shares broadly surged.
Lehman's investment banking and security underwriting revenue fell 11 percent, but the investment bank said its pipeline of new deals is at record levels, signalling that revenue from that segment could rise in coming quarters.
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