O’Melveny & Myers has achieved a remarkable financial milestone, surpassing $1 billion in gross revenue in 2024. This marks a significant turnaround after a dip below the billion-dollar mark in the previous year. The firm’s gross revenue reached $1.07 billion, an 8.4% increase from 2023. This financial upswing is accompanied by a notable 10.9% increase in profits per equity partner (PEP), which now stands at $3.05 million. This is the first time in the firm’s history that PEP has exceeded $3 million.
According to firm chair Bradley Butwin, the firm’s diversified performance is bolstered by marquee litigation clients and a strong volume of deals, contributing to a robust financial year. The firm also reported a 15.4% increase in net income, which helped improve its profit margin to 46% despite a slight 1.3% increase in lawyer headcount.
For further details on O’Melveny’s financial performance, the original article is available here.