PJT Partners Inc. (PJT) saw its stock soaring 7.65% in Tuesday's pre-market trading following the company's blowout fourth quarter 2024 earnings report. The investment bank handily beat Wall Street's expectations, driven by record revenues across its key business segments.

For the quarter ended December 31, 2024, PJT Partners reported adjusted earnings per share of $1.90, surpassing the consensus estimate of $1.16 by a wide margin of 63.8%. Revenues came in at $477.3 million, up 45.3% year-over-year and beating analysts' expectations of $381.29 million by 25.2%.

The strong quarterly performance was fueled by robust growth across PJT Partners' advisory and fund placement businesses. Advisory revenues jumped 49% to $434.5 million, while placement fees rose 14% to $32.4 million compared to the prior year period. The company also saw higher interest income and other revenues.

For the full year 2024, PJT Partners reported record revenues of $1.49 billion, up 29% from 2023. Adjusted pretax income and adjusted earnings per share also hit new highs, growing 52% and 54% year-over-year, respectively.

In its earnings release, PJT Partners highlighted several key growth drivers, including an increase in headcount to support expanding client demand, the closing of the deNovo Partners acquisition, and aggressive share buybacks. The company repurchased 3.1 million shares and share equivalents in 2024 at an average price of $109.14.