Revenue during the quarter grew 9.09 percent to $445.37 million from $408.24 million in the previous year period. Gross margin for the quarter expanded 42 basis points over the previous year period to 97.46 percent. Total expenses were 80.68 percent of quarterly revenues, down from 84.67 percent for the same period last year. This has led to an improvement of 399 basis points in operating margin to 19.32 percent.

However, the adjusted operating income for the quarter stood at $127.01 million compared to $109.83 million in the prior year period. At the same time, adjusted operating margin improved 161 basis points in the quarter to 28.52 percent from 26.90 percent in the last year period.

"Evercores fourth quarter and full year 2016 results reflect strong performance in our Investment Banking business globally. We delivered our eighth consecutive year of growth in both revenues and earnings, and operating margins of 26.5%, and at the same time, meaningfully increased our market share of advisory revenues, both among all public firms and among all public independent firms. The Evercore ISI team reaffirmed its position as the leading independent equity research firm in the U.S., maintaining revenues and profitability in a challenging environment," said Ralph Schlosstein, president and chief executive officer.