Covington & Burling's annual financial numbers for 2013 show a mix of growth—in both revenue and number of lawyers—and a decline in profits. Gross revenue for the firm grew by 1 percent, or $7 million to $657 million.
March 03, 2014 at 01:30 PM
1 minute read
The original version of this story was published on Legal Times
Covington & Burling’s annual financial numbers for 2013 show a mix of growth—in both revenue and number of lawyers—and a decline in profits. Gross revenue for the firm grew by 1 percent, or $7 million to $657 million.
Net profits tumbled 6 percent from $301.5 million in fiscal year 2012 to $283.5 million in 2013. Profits per partner dropped nearly 9 percent, down $110,000 per partner, to $1.155 million.
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