Latham & Watkins Achieves Record $7 Billion Revenue in 2024 Amid Strong Demand Across Key Practices

Latham & Watkins has reported a significant surge in its financial performance, with gross revenue reaching $7 billion in 2024, marking a 23% increase. Average profits per equity partner (PEP) have also jumped nearly 30% to surpass $7 million. These financial strides are attributed to consistent demand across several key practice areas, including M&A, private equity, capital markets, complex commercial litigation, and banking. In addition, the firm’s net income saw a 31.7% rise to close to $4 billion. Lawyer compensation has also risen by approximately 21%, averaging around $4.7 million. Despite promoting fewer partners than in previous years, the firm expanded both its equity and non-equity tiers. Further details on the firm’s performance can be accessed through the original article.