Law Firms Logged 'Truly Remarkable' Profit Growth In 2020

Law360 (February 1, 2021, 3:41 PM EST) -- Despite concerns that law firm financials could suffer amid the coronavirus pandemic, 2020 ended up being a commercially successful year for the law firm industry, with average profits climbing 10% over 2019, according to the results of a survey released on Monday.

A survey found that law firm profits rose despite the coronavirus pandemic. (iStock.com) Revenue growth averaged 3.2% across all firms last year, slowing a bit from the prior year's 4.6% growth, but profits at law firms soared, climbing 9.9% after growing 3.9% in 2019, according to the results of a survey of more than 130 law firms by Wells Fargo...

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