ALBANY — Wall Street firms nearly doubled their profits last year compared to the prior year in what was the fourth-highest amount on record, according to a report released Thursday by the state comptroller’s office.
Those profits totaled $49.9 billion last year, the report found. That’s compared to the $26.3 billion in profit recorded on Wall Street in 2023.
The securities industry is on pace to exceed last year’s profits in 2025. Firms had already generated $30.4 billion in the first six months of the year, far outpacing expectations from officials in New York City…