Lehman Brothers Holdings Inc., the fourth-biggest U.S. securities firm, reported earnings that beat analysts' estimates, easing concern that losses from the mortgage market are eroding its capital.
Lehman surged 18 percent in New York trading after falling a record 19 percent yesterday. First-quarter net income declined 57 percent to $489 million, or 81 cents a share, the New York-based company said in a statement today. Analysts had estimated Lehman would earn 72 cents a share.
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