Hogan Lovells has reported a second consecutive year of revenue growth in 2024, with total revenues nearing the $3 billion mark, up from $2.68 billion in the previous year. The firm’s aggressive growth strategy has translated into profits per equity partner (PEP) exceeding $3 million, despite largely flat net income. This outcome follows a notable reduction in the firm’s equity partner ranks by almost 10%.
Additionally, revenue per lawyer increased to $1.1 million, compared to $1.07 million the previous year. A substantial portion of this growth is attributed to the United States, where revenue surged by approximately 14%, reaching $1.41 billion.
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