Wall Street's '05 Profits To Edge Up
On Wall Street, November, 2005 by Simon Butler
Wall Street is back-but not quite better than before.
Industry profits for 2005 are expected to reach $21.21 billion, up 2.4% from the $20.72 billion earned in 2004, according to the most recent Research Report from the Securities Industry Association.
But that's still an 11.8% decline from $24.05 billion in profits for 2003.
The report suggests that the Street's unusually strong performance in third-quarter 2005 took some of the sting out of the declines in the first half of the year. It estimates that U.S. securities industry profits hit $6.1 billion in third-quarter 2005 and predicts a jump to $6.75 billion in the fourth quarter-mirroring results in fourth-quarter 2004.
The SIA expects to provide more detailed estimates of industry results for...
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