Despite a challenging market backdrop in 2023, law firm Cooley recorded a 1.4% hike in revenue to $2.03 billion, marking a new firm high. This achievement rode on the back of a balanced practice mix, even as the technology sector – a key focus for the firm – grappled with considerable struggle last year. The details reported indicate an adept navigation of choppy economic waters.
Apart from a successful revenue stream, Cooley also saw its second most profitable year after the surge in 2021. Profits per equity partner reached an impressive $3.54 million, up 8.2% from 2022. Cooley chair Joe Conroy reflected on the strong performance amidst market constraints, stating that the firm had done more than its share of capital markets work in an extremely challenging market climate.
Overall, Cooley’s performance paints a picture of resilience and strategic execution in a period of economic flux, demonstrating the firm’s ability to deliver positive results amidst market adversity.