A slowdown in corporate activity was made up for by an uptick in trial work for lawyers at Reed Smith, allowing the firm to gross nearly flat, if slightly down, revenue in 2022.
Of the $1.4 billion the global firm grossed last year, Reed Smith netted a 32% profit margin, or $454.2 million in net income, down 4.5% from 2021. Across an equity partner tier that grew by two by year’s end to 276, profits per equity partner (PEP) dipped 5.2% to $1.64 million.
