Moelis & Company’s MC fourth-quarter adjusted earnings of 77 cents per share surpassed the Zacks Consensus Estimate of 67 cents. The earnings figure also reflects an improvement of 48% from the prior-year quarter.The company’s quarterly performance benefited from growth in revenues as M&A activities continued to increase. However, higher expenses acted as a headwind.Net income for the reported quarter (GAAP basis) was $56 million, compared to a loss of $5.7 million in the prior-year quarter.Adjusted earnings per share for 2018 came in at $3.00, up 31% from the prior year. The figure also outpaced the Zacks Consensus Estimate of $2.92. Net income (GAAP Basis) for the year was $208 million compared with $126.5 million recorded in 2017.Revenues Improve, Costs RiseTotal revenues for the quarter jumped 41% year over year to $238.3 million. This rise was mainly driven by strength in M&A-related activity and higher average fees per completed transaction. However, the top-line figure missed the Zacks Consensus Estimate of $240.4 million.Total revenues for 2018 climbed 29% year over year to $885.8 million. The upside stemmed primarily from growth in all products, including capital markets and private fund advisory, with significant strength in M&A-related activity and higher average fees per completed transaction. Further, the reported figure outpaced the Zacks Consensus Estimate of $873.1 million.Total operating expenses for the quarter (adjusted basis) came in at $174.2 million, rising 35% year over year. Increase in compensation and non-compensation costs led to this upswing.Other income (adjusted basis) was $1.3 million, significantly lower than $10.1 million recorded in the year-ago quarter.As of Dec 31, 2018, Moelis & Company had cash and liquid investments of $341.6 million.Capital DeploymentOn Feb 5, the company declared a special dividend of $1.25 per share and also increased the regular quarterly dividend to 50cents per share (up 6% from prior payout). The dividend of $1.75 per share will be paid on Mar 29 to common shareholders of record on Feb 19.Further, the company authorized the repurchase of up to $100 million of shares of Class A common stock of Moelis &Company and/or Class A partnership units of Moelis & Company Group LP with no expiration date.Our TakeThe company’s global expansion initiatives, along with strategic partnerships in Japan, Australia and Mexico, will likely continue supporting its top line. Also, a favorable operating environment, diversification across sectors and strong liquidity position will be conducive to its growth. However, rising operating expenses are expected to hurt the company’s profitability to some extent.Moelis & Company Price, Consensus and EPS Surprise Moelis & Company Price, Consensus and EPS Surprise | Moelis & Company QuoteCurrently, Moelis & Company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Performances of Other Investment Management StocksBlackRock, Inc.’s BLK fourth-quarter 2018 adjusted earnings of $6.08 per share missed the Zacks Consensus Estimate of $6.39. Further, the figure came in 2% lower than the year-ago tally.Invesco IVZ reported fourth-quarter 2018 adjusted earnings of 44 cents per share, lagging the Zacks Consensus Estimate of 56 cents. Also, the figure came in 39.7% lower than the prior-year quarter level.Blackstone BX posted fourth-quarter 2018 net loss of 2 cents per unit. The Zacks Consensus Estimate for earnings was pegged at 3 cents. Additionally, the reported figure reflected a decline from 45 cents earned in the prior-year quarter.Zacks' Top 10 Stocks for 2019In addition to the stocks discussed above, wouldn't you like to know about our 10 finest buy-and-holds for the year?From more than 4,000 companies covered by the Zacks Rank, these 10 were picked by a process that consistently beats the market. Even during 2018 while the market dropped -5.2%, our Top 10s were up well into double-digits. And during bullish 2012 – 2017, they soared far above the market's +126.3%, reaching +181.9%.This year, the portfolio features a player that thrives on volatility, an AI comer, and a dynamic tech company that helps doctors deliver better patient outcomes at lower costs.See Stocks Today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Moelis & Company (MC): Free Stock Analysis Report The Blackstone Group L.P. (BX): Get Free Report BlackRock, Inc. (BLK): Free Stock Analysis Report Invesco Ltd. (IVZ): Get Free Report To read this article on Zacks.com click here. Zacks Investment Research