Cowen Announces Record First Quarter 2018 Financial Results
Cowen Inc. - Class A (COWN)
Last cowen inc. - class a earnings: 4/29 07:01 am
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US:NASDAQ Investor Relations:
investor.cowen.com/investor-overview
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)-- Cowen Inc. (NASDAQ:COWN) (“Cowen” or “the Company”) today announced its operating results for the first quarter ended March 31, 2018. Financial Highlights GAAP Revenue rose 119% year over year to a record $251.4 million compared to $115.0 million in the prior year period. Net income attributable to common stockholders was $15.2 million or $0.50 per diluted common share compared to $1.3 million or $0.05 per diluted common share in the prior year period. The Company adopted ASC Topic 606 Revenue from Contracts with Customers, ("ASC Topic 606") as amended. The Company applied this new revenue recognition guidance using the modified retrospective method effective January 1, 2018 and therefore there is no impact on previously issued results. The effect on the current quarter results is outlined within this pre
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