Citing client need for expert advice on policy, government enforcement and regulation, D.C.-founded Covington & Burling saw 11.3% revenue growth in 2020, while growing profits per equity partner (PEP) 5.5%.

The numbers buck a trend thus far among Am Law 50 firms financial results, which saw reduced expenses and other factors contribute to profit growth that significantly outpaced revenue growth, sometimes by a factor of two or more.