Investment banking firm PJT Partners (NYSE: PJT) reported Q2 CY2026 results exceeding the market’s revenue expectations, with sales up 19.5% year on year to $486.3 million. Its non-GAAP profit of $1.97 per share was 25.6% above analysts’ consensus estimates.

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Paul J. Taubman, Chairman and Chief Executive Officer, said, “Our firm delivered record setting results across the board, as second quarter and first half Revenues, Pretax Income and EPS were all the highest in our firm’s history. Over the past decade, we have been steadfast in our commitment to value-enhancing, long-term investments that scale and strengthen our businesses. That investment has been essential to our growth trajectory, enabling us to build our capabilities, our footprint and our brand. As before, we remain highly confident in our future growth prospects.”

Company Overview

Spun off from Blackstone in 2015 and founded by former Morgan Stanley executive Paul J. Taubman, PJT Partners (NYSE: PJT) is an advisory-focused investment bank that provides strategic advice, restructuring services, and fundraising solutions to corporations, boards, and investment firms.

Revenue Growth

A company’s long-term performance is an indicator of its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Over the last five years, PJT grew its revenue at a solid 12.1% compounded annual growth rate. Its growth beat the average financials company and shows its offerings resonate with customers, a helpful starting point for our analysis.

We at StockStory place the most emphasis on long-term growth, but within financials, a half-decade historical view may miss recent interest rate changes, market returns, and industry trends. PJT’s annualized revenue growth of 20.6% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated. Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.

This quarter, PJT reported year-on-year revenue growth of 19.5%, and its $486.3 million of revenue exceeded Wall Street’s estimates by 14.3%.

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Key Takeaways from PJT’s Q2 Results

It was good to see PJT beat analysts’ EPS expectations this quarter. We were also excited its revenue outperformed Wall Street’s estimates by a wide margin. Zooming out, we think this quarter featured some important positives. The stock remained flat at $168.80 immediately after reporting.

Big picture, is PJT a buy here and now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here (it’s free).