Cowen Announces First Quarter 2020 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: GlobeNewswire
Reports 1Q20 GAAP Loss of $(0.41) per share and Economic Operating Loss of $(0.24) per shareRecord Quarterly Brokerage Revenues and Second-Highest Investment Banking RevenuesOperating Co Segment Profitable Despite Losses in Investment Income and Incentive Income Asset Co Segment Losses Due to Markdowns in Private PortfolioStrong Balance Sheet with Reduced Risk, Book Value of $24.74 and TBV of $18.60 per share. NEW YORK, April 29, 2020 (GLOBE NEWSWIRE) -- Cowen Inc. (NASDAQ: COWN) (“Cowen” or “the Company”) today announced its operating results for the first quarter ended March 31, 2020. Jeffrey M. Solomon, Chairman and Chief Executive Officer of Cowen, said, "Even though the first quarter of 2020 was the most challenging period for financial markets in more than a decade, Cowen performed well operationally. We had very strong financial performance in January and February followed by a difficult March which was driven largely by negative investment performance. We moved quickly to
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